ASGN (NYSE:ASGN) Issues Earnings Results

ASGN (NYSE:ASGN) announced its earnings results on Wednesday. The business services provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.03, Briefing.com reports. ASGN had a return on equity of 14.15% and a net margin of 4.56%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted $1.59 EPS. The company’s revenue was down 8.5% on a year-over-year basis. ASGN updated its Q3 guidance to $1.31-$1.39 EPS and its Q3 2024 guidance to 1.310-1.390 EPS.

ASGN Price Performance

Shares of NYSE:ASGN traded up $2.76 during midday trading on Friday, hitting $95.53. 125,326 shares of the stock were exchanged, compared to its average volume of 298,836. The stock has a market cap of $4.38 billion, a P/E ratio of 21.97, a PEG ratio of 8.39 and a beta of 1.40. ASGN has a twelve month low of $75.85 and a twelve month high of $106.42. The company has a 50 day moving average price of $92.97 and a 200-day moving average price of $95.92. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.56.

Insider Activity at ASGN

In other ASGN news, Director Carol Lindstrom sold 1,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $97.04, for a total value of $97,040.00. Following the sale, the director now owns 5,639 shares of the company’s stock, valued at $547,208.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ASGN news, Director Carol Lindstrom sold 1,000 shares of ASGN stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $97.04, for a total value of $97,040.00. Following the completion of the sale, the director now directly owns 5,639 shares of the company’s stock, valued at approximately $547,208.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Randolph C. Blazer sold 6,000 shares of ASGN stock in a transaction on Monday, May 6th. The shares were sold at an average price of $98.00, for a total transaction of $588,000.00. Following the transaction, the president now owns 101,923 shares in the company, valued at approximately $9,988,454. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ASGN has been the topic of several recent research reports. BMO Capital Markets dropped their price objective on shares of ASGN from $95.00 to $94.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Robert W. Baird increased their price target on shares of ASGN from $99.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $115.00 price objective on shares of ASGN in a report on Thursday. Two 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 company. Based on data from MarketBeat.com, ASGN currently has an average rating of “Hold” and an average price target of $97.22.

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.