Argan (AGX) Set to Announce Quarterly Earnings on Thursday

Argan (NYSE:AGX) is scheduled to be releasing its earnings data after the market closes on Thursday, September 5th. Persons interested in registering for the company’s earnings conference call can do so using this link.

Argan (NYSE:AGX) last released its earnings results on Thursday, June 6th. The construction company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $157.70 million for the quarter, compared to analysts’ expectations of $134.75 million. Argan had a net margin of 6.08% and a return on equity of 13.22%. The company’s quarterly revenue was up 52.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share.

Argan Stock Down 8.5 %

AGX opened at $72.58 on Wednesday. The company’s 50-day moving average price is $74.02 and its two-hundred day moving average price is $64.86. Argan has a twelve month low of $39.74 and a twelve month high of $81.05. The stock has a market cap of $969.23 million, a price-to-earnings ratio of 25.83 and a beta of 0.51.

Argan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 23rd were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, July 23rd. Argan’s dividend payout ratio (DPR) is currently 42.70%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Lake Street Capital boosted their price target on shares of Argan from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, June 7th. StockNews.com lowered shares of Argan from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th.

Insider Activity

In related news, Chairman William F. Griffin, Jr. sold 1,885 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $78.31, for a total transaction of $147,614.35. Following the sale, the chairman now owns 175,719 shares of the company’s stock, valued at approximately $13,760,554.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David Hibbert Watson sold 15,134 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $77.79, for a total transaction of $1,177,273.86. Following the sale, the chief executive officer now owns 44,348 shares of the company’s stock, valued at approximately $3,449,830.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman William F. Griffin, Jr. sold 1,885 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $78.31, for a total transaction of $147,614.35. Following the sale, the chairman now directly owns 175,719 shares in the company, valued at approximately $13,760,554.89. The disclosure for this sale can be found here. Insiders have sold a total of 103,039 shares of company stock valued at $7,712,880 over the last quarter. Company insiders own 11.85% of the company’s stock.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.