Argan (AGX) Projected to Post Earnings on Wednesday

Argan (NYSE:AGX - Get Free Report) is expected to announce its earnings results 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 interested in listening to the company's earnings conference call can do so using this link.

Argan (NYSE:AGX - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The construction company reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $1.07. Argan had a net margin of 8.20% and a return on equity of 21.66%. The company had revenue of $232.47 million during the quarter, compared to analysts' expectations of $197.50 million. The company's revenue was up 41.3% compared to the same quarter last year.

Argan Stock Down 6.3 %

Shares of AGX stock traded down $8.15 during mid-day trading on Friday, hitting $120.60. 485,711 shares of the stock were exchanged, compared to its average volume of 283,205. Argan has a 52-week low of $48.85 and a 52-week high of $191.46. The company has a market cap of $1.64 billion, a PE ratio of 25.23 and a beta of 0.58. The firm has a fifty day moving average of $131.32 and a 200 day moving average of $136.52.

Analyst Ratings Changes

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

Remove Ads

Insider Buying and Selling

In other news, Director Peter W. Getsinger sold 800 shares of Argan stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $155.24, for a total value of $124,192.00. Following the sale, the director now owns 19,177 shares in the company, valued at $2,977,037.48. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard H. Deily sold 2,000 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 9,367 shares of the company's stock, valued at $1,405,050. This represents a 17.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,185 shares of company stock valued at $1,644,859. 11.85% of the stock is owned by corporate 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.