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

Argan (NYSE:AGX) announced its quarterly earnings data on Thursday. The construction company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.14, Briefing.com reports. The business had revenue of $164.55 million for the quarter, compared to the consensus estimate of $162.05 million. Argan had a net margin of 5.64% and a return on equity of 11.45%. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.46) earnings per share.

Argan Stock Performance

Shares of AGX stock opened at $59.91 on Friday. Argan has a one year low of $37.37 and a one year high of $61.79. The company has a 50 day moving average price of $48.20 and a 200 day moving average price of $46.52. The firm has a market capitalization of $798.60 million, a price-to-earnings ratio of 25.07 and a beta of 0.49.

Argan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 22nd will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, April 19th. Argan’s dividend payout ratio (DPR) is 50.21%.

Wall Street Analyst Weigh In

Separately, Lake Street Capital upped their price objective on shares of Argan from $61.00 to $70.00 and gave the company a “buy” rating in a research note on Friday.

Hedge Funds Weigh In On Argan

Several institutional investors and hedge funds have recently bought and sold shares of AGX. Quantbot Technologies LP increased its position in shares of Argan by 390.9% in the second quarter. Quantbot Technologies LP now owns 1,620 shares of the construction company’s stock worth $60,000 after acquiring an additional 1,290 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Argan in the second quarter worth $80,000. PNC Financial Services Group Inc. acquired a new stake in shares of Argan in the first quarter worth $109,000. Barclays PLC increased its position in shares of Argan by 519.2% in the fourth quarter. Barclays PLC now owns 3,517 shares of the construction company’s stock worth $130,000 after acquiring an additional 2,949 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Argan by 38.6% in the third quarter. UBS Group AG now owns 5,052 shares of the construction company’s stock worth $163,000 after acquiring an additional 1,408 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

About Argan

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.