Argo Group (ARGO) Expected to Post Quarterly Sales of $486.97 Million

Equities analysts expect Argo Group (NASDAQ:ARGO) to post $486.97 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Argo Group’s earnings, with the highest sales estimate coming in at $495.20 million and the lowest estimate coming in at $482.20 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 firm is scheduled to issue its next earnings report on Monday, August 5th.

On average, 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 financial year, analysts anticipate that the company will post sales of $2.13 billion, with estimates ranging from $2.03 billion to $2.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Argo Group.

Argo Group (NASDAQ:ARGO) last issued its quarterly earnings data on Monday, April 29th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.30. The business had revenue of $456.70 million for the quarter, compared to the consensus estimate of $488.65 million.

A number of brokerages have recently issued reports on ARGO. 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 research report on Friday, April 26th. Boenning Scattergood restated a “buy” rating and set a $74.00 target price on shares of Argo Group in a research note on Tuesday, April 30th. Zacks Investment Research upgraded shares of Argo Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Monday, January 14th. Finally, Compass Point upgraded shares of Argo Group from a “neutral” rating to a “buy” rating and set a $68.10 target price on the stock in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.70.

Shares of ARGO stock traded up $0.31 during mid-day trading on Friday, reaching $75.43. 187,462 shares of the company’s stock traded hands, compared to its average volume of 124,347. Argo Group has a 12 month low of $57.75 and a 12 month high of $78.57.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARGO. First Hawaiian Bank purchased a new position in shares of Argo Group during the 4th quarter valued at $358,000. Virtu Financial LLC purchased a new stake in Argo Group in the 4th quarter worth $263,000. Boston Advisors LLC purchased a new stake in Argo Group in the 4th quarter worth $527,000. Nisa Investment Advisors LLC purchased a new stake in Argo Group in the 4th quarter worth $59,000. Finally, Peregrine Capital Management LLC purchased a new stake in Argo Group in the 4th quarter worth $31,446,000.

About Argo Group

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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Earnings History and Estimates for Argo Group (NASDAQ:ARGO)

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