Argan (NYSE:AGX) Announces Earnings Results, Beats Estimates By $1.07 EPS

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

Argan Stock Performance

Shares of AGX stock traded down $6.66 during trading hours on Monday, reaching $131.46. The company had a trading volume of 735,537 shares, compared to its average volume of 276,756. The business has a fifty day moving average price of $135.15 and a 200-day moving average price of $135.38. Argan has a one year low of $48.85 and a one year high of $191.46. The firm has a market cap of $1.78 billion, a PE ratio of 27.50 and a beta of 0.58.

Analysts Set New Price Targets

Several brokerages recently weighed in on AGX. CJS Securities reissued a "market perform" rating and set a $150.00 price target on shares of Argan in a research report on Friday, December 6th. Lake Street Capital upgraded Argan from a "hold" rating to a "buy" rating and set a $150.00 target price on the stock in a research note on Friday.

Insider Activity at Argan

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the business's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the completion of the sale, the director now directly owns 11,792 shares in the company, valued at $1,949,099.68. The trade was a 38.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard H. Deily sold 2,000 shares of the company's stock in a transaction dated Wednesday, January 8th. The shares were 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. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,185 shares of company stock worth $1,644,859 over the last quarter. Company insiders own 11.85% of the company's stock.

Remove Ads

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.