ASGN (NYSE:ASGN) Releases Q2 2024 Earnings Guidance

ASGN (NYSE:ASGN) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.280-1.360 for the period, compared to the consensus estimate of 1.360. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. ASGN also updated its Q2 guidance to $1.28-1.36 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of ASGN to $88.00 and gave the stock a hold rating in a report on Wednesday, January 10th. Bank Of America (Bofa) reiterated an underweight rating and issued a $70.00 price objective on shares of ASGN in a research note on Monday, January 8th. BMO Capital Markets increased their price objective on shares of ASGN to $110.00 and gave the company a hold rating in a research note on Wednesday, January 10th. Canaccord Genuity Group reiterated a buy rating and issued a $110.00 price objective on shares of ASGN in a research note on Wednesday, January 3rd. Finally, Truist Financial increased their price objective on shares of ASGN from $93.00 to $110.00 and gave the company a buy rating in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $93.50.

ASGN Stock Performance

Shares of ASGN stock traded up $1.33 during trading hours on Wednesday, hitting $102.11. 405,917 shares of the company were exchanged, compared to its average volume of 242,618. The firm has a fifty day simple moving average of $99.56 and a 200 day simple moving average of $93.32. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.55. ASGN has a 52-week low of $63.27 and a 52-week high of $106.42. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 4.00 and a beta of 1.50.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, February 7th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. ASGN had a net margin of 4.93% and a return on equity of 15.52%. ASGN’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 EPS. Research analysts predict that ASGN will post 5.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $93.62, for a total value of $102,982.00. Following the completion of the transaction, the senior vice president now directly owns 52,716 shares of the company’s stock, valued at approximately $4,935,271.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $93.62, for a total value of $102,982.00. Following the completion of the transaction, the senior vice president now directly owns 52,716 shares of the company’s stock, valued at approximately $4,935,271.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Randolph C. Blazer sold 7,746 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $94.31, for a total transaction of $730,525.26. Following the completion of the transaction, the president now directly owns 107,923 shares of the company’s stock, valued at $10,178,218.13. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

ASGN Company Profile

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.