Zacks: Brokerages Anticipate ASGN Inc (ASGN) Will Post Quarterly Sales of $920.81 Million
Brokerages expect ASGN Inc (NYSE:ASGN) to announce $920.81 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for ASGN’s earnings. The highest sales estimate is $921.69 million and the lowest is $919.70 million. ASGN posted sales of $685.17 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.4%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, April 24th.
According to Zacks, analysts expect that ASGN will report full year sales of $3.85 billion for the current fiscal year, with estimates ranging from $3.75 billion to $3.91 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.12 billion, with estimates ranging from $3.98 billion to $4.23 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover ASGN.
ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, February 13th. The business services provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.01). ASGN had a return on equity of 20.88% and a net margin of 4.64%. The company had revenue of $929.65 million for the quarter, compared to the consensus estimate of $929.80 million. During the same quarter in the previous year, the business earned $1.44 earnings per share. ASGN’s revenue was up 36.9% compared to the same quarter last year.
ASGN traded up $0.71 on Thursday, hitting $68.30. 308,300 shares of the company were exchanged, compared to its average volume of 304,007. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.23 and a quick ratio of 2.23. ASGN has a 12 month low of $51.05 and a 12 month high of $94.25. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.61 and a beta of 1.95.
In other news, Director William E. Brock sold 1,480 shares of ASGN stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $61.72, for a total value of $91,345.60. Following the sale, the director now directly owns 17,513 shares in the company, valued at approximately $1,080,902.36. The sale was disclosed in a filing with the SEC, which is available through this link. 3.90% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ASGN. Norges Bank purchased a new position in shares of ASGN in the 4th quarter valued at approximately $35,991,000. Morgan Stanley raised its stake in ASGN by 196.1% during the third quarter. Morgan Stanley now owns 524,728 shares of the business services provider’s stock valued at $41,416,000 after buying an additional 347,504 shares during the last quarter. Millennium Management LLC raised its stake in ASGN by 223.1% during the fourth quarter. Millennium Management LLC now owns 446,094 shares of the business services provider’s stock valued at $24,312,000 after buying an additional 308,035 shares during the last quarter. Deutsche Bank AG raised its stake in ASGN by 77.3% during the fourth quarter. Deutsche Bank AG now owns 328,105 shares of the business services provider’s stock valued at $17,880,000 after buying an additional 143,013 shares during the last quarter. Finally, Retirement Systems of Alabama purchased a new position in ASGN during the fourth quarter valued at $7,663,000. Institutional investors own 90.15% of the company’s stock.
ASGN Incorporated provides information technology (IT) and professional staffing services in the technology, digital, creative, engineering, and life sciences fields across commercial and government sectors in the United States and internationally. The company operates through Apex, Oxford, and ECS segments.
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