Argan (AGX) to Release Quarterly Earnings on Wednesday

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

Argan (NYSE:AGX) last released its 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. Argan had a return on equity of 21.66% and a net margin of 8.20%. The firm had revenue of $232.47 million for the quarter, compared to analysts’ expectations of $197.50 million. Argan’s quarterly revenue was up 41.3% on a year-over-year basis.

Argan Stock Up 3.1 %

NYSE:AGX opened at $123.86 on Tuesday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 25.91 and a beta of 0.45. The company’s 50 day moving average price is $131.06 and its 200-day moving average price is $136.72. Argan has a 52 week low of $48.85 and a 52 week high of $191.46.

Insider Activity at Argan

In other Argan news, Director Peter W. Getsinger sold 800 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $155.24, for a total value of $124,192.00. Following the completion of the sale, the director now owns 19,177 shares in the company, valued at $2,977,037.48. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction dated Wednesday, January 8th. The shares were 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 approximately $1,405,050. The trade was a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,185 shares of company stock worth $1,644,859. 11.85% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised Argan from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Friday, March 28th.

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.