Argan Inc. (AGX) Rating Lowered to Hold at Zacks Investment Research
According to Zacks, “Argan, Inc., headquartered in Rockville, MD, through its wholly owned Southern Maryland Cable, Inc. subsidiary, provides inside premise wiring services to the federal government and also provides underground and aerial construction services and splicing to major telecommunications and utilities customers. “
Shares of Argan (NYSE:AGX) opened at 56.25 on Tuesday. The company has a 50 day moving average of $56.68 and a 200-day moving average of $46.23. Argan has a 52-week low of $28.03 and a 52-week high of $60.09. The company has a market cap of $845.55 million, a PE ratio of 17.28 and a beta of 0.97.
Argan (NYSE:AGX) last announced its quarterly earnings data on Tuesday, September 6th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.50. The business had revenue of $162.50 million for the quarter. Argan had a net margin of 9.45% and a return on equity of 21.27%. Analysts forecast that Argan will post $3.62 EPS for the current fiscal year.
The company also recently disclosed an annual dividend, which was paid on Friday, October 28th. Investors of record on Tuesday, October 18th were paid a $0.70 dividend. The ex-dividend date was Friday, October 14th. This represents a yield of 1.27%. Argan’s dividend payout ratio (DPR) is 21.41%.
In other Argan news, Director William F. Leimkuhler sold 5,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $56.53, for a total transaction of $282,650.00. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at $847,950. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William F. Griffin, Jr. sold 16,311 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $52.50, for a total transaction of $856,327.50. The disclosure for this sale can be found here. 9.50% of the stock is currently owned by corporate insiders.
Argan Company Profile
Argan, Inc is a holding company. The Company conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited (APC), Southern Maryland Cable, Inc (SMC) and The Roberts Company (Roberts). Through GPS and APC, the Company’s power industry services segment provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical and consulting services to the power generation and renewable energy markets.
Receive News & Stock Ratings for Argan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Argan Inc. and related stocks with our FREE daily email newsletter.