ASGN (NYSE:ASGN) Releases Q2 Earnings Guidance

ASGN (NYSE:ASGN) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.28-1.36 for the period, compared to the consensus estimate of $1.36. The company issued revenue guidance of $1.034.5-1.0545 billion, compared to the consensus revenue estimate of $1.07 billion. ASGN also updated its Q2 2024 guidance to 1.280-1.360 EPS.

Wall Street Analysts Forecast Growth

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

ASGN Price Performance

NYSE:ASGN traded up $1.33 during mid-day trading on Wednesday, reaching $102.11. The stock had a trading volume of 405,917 shares, compared to its average volume of 242,618. The stock has a 50-day simple moving average of $99.43 and a two-hundred day simple moving average of $93.26. The stock has a market capitalization of $4.75 billion, a PE ratio of 22.69, a P/E/G ratio of 4.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 2.47. ASGN has a 12 month low of $63.27 and a 12 month high of $106.42.

ASGN (NYSE:ASGN) last announced its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. ASGN had a net margin of 4.93% and a return on equity of 15.52%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.51 earnings per share. On average, equities analysts anticipate that ASGN will post 5.79 earnings per share for the current year.

Insider Transactions at ASGN

In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $93.62, for a total value of $102,982.00. Following the completion of the sale, the senior vice president now directly owns 52,716 shares in the company, valued at $4,935,271.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ASGN news, President Randolph C. Blazer sold 7,746 shares of the company’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 sale, the president now owns 107,923 shares of the company’s stock, valued at $10,178,218.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $93.62, for a total transaction of $102,982.00. Following the transaction, the senior vice president now directly owns 52,716 shares in the company, valued at approximately $4,935,271.92. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

About ASGN

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.