Equities research analysts expect Argo Group International Holdings, Ltd. (NYSE:ARGO) to announce $493.73 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Argo Group International’s earnings, with the lowest sales estimate coming in at $492.20 million and the highest estimate coming in at $495.00 million. Argo Group International posted sales of $436.90 million in the same quarter last year, which suggests a positive year over year growth rate of 13%. The company is scheduled to issue its next quarterly earnings report after the market closes on Monday, August 2nd.
According to Zacks, analysts expect that Argo Group International will report full-year sales of $1.99 billion for the current fiscal year, with estimates ranging from $1.98 billion to $2.00 billion. For the next financial year, analysts anticipate that the business will report sales of $2.05 billion, with estimates ranging from $2.01 billion to $2.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Argo Group International.
Argo Group International (NYSE:ARGO) last announced its quarterly earnings results on Monday, May 3rd. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.46. Argo Group International had a negative return on equity of 0.82% and a negative net margin of 1.18%. The firm had revenue of $510.50 million for the quarter, compared to analyst estimates of $483.63 million.
A number of brokerages have recently issued reports on ARGO. Raymond James raised their price objective on Argo Group International from $60.00 to $65.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 5th. Zacks Investment Research downgraded Argo Group International from a “hold” rating to a “sell” rating in a report on Tuesday, July 13th. Compass Point upgraded Argo Group International from a “neutral” rating to a “buy” rating and set a $61.00 target price for the company in a report on Friday, July 9th. Finally, Boenning Scattergood restated a “neutral” rating on shares of Argo Group International in a report on Monday, April 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Argo Group International has an average rating of “Buy” and a consensus target price of $48.81.
Large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in Argo Group International in the first quarter worth $51,000. Arlington Partners LLC purchased a new position in Argo Group International in the first quarter worth $97,000. Jane Street Group LLC purchased a new position in Argo Group International in the first quarter worth $201,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Argo Group International by 35.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock worth $204,000 after purchasing an additional 1,071 shares during the last quarter. Finally, First Mercantile Trust Co. boosted its position in Argo Group International by 14.4% in the first quarter. First Mercantile Trust Co. now owns 4,906 shares of the company’s stock worth $247,000 after purchasing an additional 619 shares during the last quarter. 90.80% of the stock is currently owned by institutional investors.
Shares of ARGO opened at $50.31 on Tuesday. Argo Group International has a 1 year low of $32.16 and a 1 year high of $58.60. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.75 billion, a P/E ratio of -57.17 and a beta of 0.95. The business’s 50-day moving average is $53.43.
The business also recently announced a quarterly dividend, which was paid on Friday, June 4th. Investors of record on Friday, May 21st were given a dividend of $0.31 per share. The ex-dividend date was Thursday, May 20th. This represents a $1.24 annualized dividend and a dividend yield of 2.46%. Argo Group International’s payout ratio is -193.75%.
About Argo Group International
Argo Group International Holdings, Ltd. underwrites specialty insurance and reinsurance products in the property and casualty markets. The company operates in two segments, U.S. Operations and International Operations. It offers primary and excess specialty casualty, contract liability, commercial multi-peril, product liability, environmental liability, and auto liability insurance products; workers compensation, general liability, auto liability, and various public entity liability risks; management liability, and errors and omissions liability; and surety and inland marine insurance products.
Featured Article: What is the balance sheet?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: How Do Front-End Loads Impact an Investment?
We all knew that traditional healthcare services were disrupted in 2020. The patient-doctor relationship went virtual. In the early months of the pandemic, many people in need of elective surgeries simply did not have that option available to them. And even local pharmacies took on a new e-commerce role as curbside pickup or home delivery of prescription medication became the norm.
Not surprisingly healthcare stocks were battered last year. Overall, the sector was down 11%, far below the S&P 500 Index that climbed over 15%.
However, the market is always forward-looking with a particular eye towards innovation. The healthcare sector has many companies that are developing innovative approaches in areas such as gene editing. And other companies are in late-stage trials for drugs that can deliver breakthrough results for conditions that continue to plague our world.
That’s the focus of this presentation. We’ve identified 7 healthcare stocks that are delivering innovative ideas that will help deliver better patient outcomes. And in some cases will revolutionize medicine altogether. These are also the stocks that analysts have their eye on.