Argan (NYSE:AGX) Issues Earnings Results

Argan (NYSE:AGX) posted its earnings results on Thursday. The construction company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34, Briefing.com reports. Argan had a net margin of 6.08% and a return on equity of 13.22%. The firm had revenue of $227.02 million for the quarter, compared to analysts’ expectations of $191.05 million. The company’s revenue was up 60.6% on a year-over-year basis.

Argan Stock Up 26.0 %

NYSE AGX opened at $89.97 on Friday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 32.02 and a beta of 0.51. Argan has a twelve month low of $39.74 and a twelve month high of $95.73. The stock has a fifty day simple moving average of $74.25 and a 200 day simple moving average of $65.25.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 23rd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, July 23rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.33%. Argan’s dividend payout ratio (DPR) is presently 42.70%.

Analyst Ratings Changes

AGX has been the topic of a number of research reports. Lake Street Capital boosted their price objective on Argan from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. StockNews.com cut Argan from a “strong-buy” rating to a “buy” rating in a report on Friday, June 7th.

Insiders Place Their Bets

In other news, Director Rainer H. Bosselmann sold 17,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $69.23, for a total transaction of $1,176,910.00. Following the completion of the transaction, the director now directly owns 247,719 shares in the company, valued at $17,149,586.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Argan news, Director Rainer H. Bosselmann sold 17,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $69.23, for a total transaction of $1,176,910.00. Following the sale, the director now owns 247,719 shares of the company’s stock, valued at $17,149,586.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rainer H. Bosselmann sold 25,000 shares of Argan stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $71.52, for a total value of $1,788,000.00. Following the completion of the transaction, the director now directly owns 273,916 shares of the company’s stock, valued at $19,590,472.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,039 shares of company stock valued at $7,712,880. 11.85% of the stock is currently owned by company insiders.

About Argan

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.