Argan (AGX) Expected to Announce Earnings on Wednesday

Argan (NYSE:AGX) is projected to issue its quarterly earnings data before the market opens on Wednesday, April 9th. Analysts expect the company to announce earnings of $1.15 per share and revenue of $197.50 million for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Argan (NYSE:AGX) last issued its quarterly earnings results on Thursday, March 27th. The construction company reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $1.07. The business had revenue of $232.47 million during the quarter, compared to the consensus estimate of $197.50 million. Argan had a net margin of 8.20% and a return on equity of 21.66%. The firm’s revenue for the quarter was up 41.3% on a year-over-year basis.

Argan Stock Performance

Shares of AGX opened at $134.42 on Wednesday. Argan has a 1 year low of $48.85 and a 1 year high of $191.46. The company’s 50 day simple moving average is $134.12 and its 200 day simple moving average is $135.69. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 28.12 and a beta of 0.58.

Insider Activity at Argan

In other news, CFO Richard H. Deily sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 9,367 shares in the company, valued at $1,405,050. This trade represents a 17.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter W. Getsinger sold 7,385 shares of Argan stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $165.29, for a total value of $1,220,666.65. Following the completion of the transaction, the director now directly owns 11,792 shares in the company, valued at $1,949,099.68. This represents a 38.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,185 shares of company stock worth $1,644,859. 11.85% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on AGX. Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Friday, March 28th. CJS Securities reiterated a “market perform” rating and issued a $150.00 target price on shares of Argan in a research note on Friday, December 6th.

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.