Argan (NYSE:AGX) Releases Earnings Results, Beats Expectations By $0.14 EPS

Argan (NYSE:AGX) issued its quarterly earnings data on Thursday. The construction company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14, Briefing.com reports. The firm had revenue of $164.55 million during the quarter, compared to the consensus estimate of $162.05 million. Argan had a return on equity of 11.45% and a net margin of 5.64%. The company’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period last year, the company earned ($0.46) EPS.

Argan Stock Up 21.1 %

NYSE AGX traded up $10.42 during trading on Friday, hitting $59.77. The stock had a trading volume of 557,556 shares, compared to its average volume of 61,499. The company has a market capitalization of $796.73 million, a PE ratio of 25.01 and a beta of 0.49. The firm has a 50 day moving average price of $48.49 and a 200 day moving average price of $46.62. Argan has a twelve month low of $37.37 and a twelve month high of $61.79.

Argan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 22nd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, April 19th. Argan’s dividend payout ratio is currently 50.21%.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lifted their target price on Argan from $61.00 to $70.00 and gave the company a “buy” rating in a research report on Friday.

Hedge Funds Weigh In On Argan

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP boosted its stake in shares of Argan by 390.9% in the 2nd quarter. Quantbot Technologies LP now owns 1,620 shares of the construction company’s stock valued at $60,000 after buying an additional 1,290 shares during the period. Lazard Asset Management LLC purchased a new stake in Argan during the second quarter worth approximately $80,000. PNC Financial Services Group Inc. purchased a new stake in Argan during the first quarter worth approximately $109,000. Barclays PLC lifted its stake in Argan by 519.2% during the fourth quarter. Barclays PLC now owns 3,517 shares of the construction company’s stock worth $130,000 after purchasing an additional 2,949 shares during the last quarter. Finally, UBS Group AG lifted its stake in Argan by 38.6% during the third quarter. UBS Group AG now owns 5,052 shares of the construction company’s stock worth $163,000 after purchasing an additional 1,408 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, technical, and consulting services to the power generation market. The company operates through Power Industry Services, Industrial Fabrication and Field Services, and Telecommunications Infrastructure Services segments.