Equities analysts forecast that Argo Group (NASDAQ:ARGO) will post $486.97 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Argo Group’s earnings, with estimates ranging from $482.20 million to $495.20 million. Argo Group posted sales of $452.80 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.5%. The business is scheduled to issue its next earnings results on Monday, August 5th.
According to Zacks, analysts expect that Argo Group will report full-year sales of $1.94 billion for the current year, with estimates ranging from $1.91 billion to $1.97 billion. For the next year, analysts forecast that the company will report sales of $2.13 billion, with estimates ranging from $2.03 billion to $2.24 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Argo Group.
Argo Group (NASDAQ:ARGO) last announced its quarterly earnings results on Monday, April 29th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.30. The firm had revenue of $456.70 million for the quarter, compared to analyst estimates of $488.65 million.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Argo Group from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Thursday, May 2nd. William Blair downgraded shares of Argo Group from an “outperform” rating to a “market perform” rating and set a $74.12 price objective for the company. in a report on Friday, April 26th. Compass Point raised shares of Argo Group from a “neutral” rating to a “buy” rating and set a $68.10 price objective for the company in a report on Tuesday, March 19th. Finally, Boenning Scattergood reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Argo Group in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.70.
ARGO stock traded up $1.64 during trading on Tuesday, hitting $75.49. The company had a trading volume of 259,241 shares, compared to its average volume of 131,675. The firm has a 50 day moving average price of $73.37. Argo Group has a fifty-two week low of $57.75 and a fifty-two week high of $78.57.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, June 6th.
In other Argo Group news, Director Kathleen Nealon sold 1,210 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $73.10, for a total value of $88,451.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin James Rehnberg sold 6,442 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $71.08, for a total transaction of $457,897.36. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently modified their holdings of ARGO. PNC Financial Services Group Inc. acquired a new stake in Argo Group during the 4th quarter worth about $133,000. Quadrant Capital Group LLC acquired a new stake in Argo Group during the 1st quarter worth about $53,000. Comerica Bank acquired a new stake in Argo Group during the 4th quarter worth about $4,310,000. California Public Employees Retirement System acquired a new stake in Argo Group during the 4th quarter worth about $7,141,000. Finally, Bronfman E.L. Rothschild L.P. acquired a new stake in Argo Group during the 4th quarter worth about $647,000.
Argo Group Company Profile
Argo Group International Holdings Ltd. engages in underwriting property and casualty insurance and reinsurance. The company operates through following segments: Property, Liability, Professional and Specialty. The Property segment includes both property insurance and reinsurance products. The Liability segment includes a broad range of primary and excess casualty products.
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