ASGN (NYSE:ASGN) Releases Q2 2024 Earnings Guidance

ASGN (NYSE:ASGN) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. 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.

ASGN Stock Up 1.3 %

ASGN stock traded up $1.33 during mid-day trading on Wednesday, reaching $102.11. 405,917 shares of the company’s stock were exchanged, compared to its average volume of 242,618. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $99.43 and a 200-day moving average of $93.26. The company has a market cap of $4.75 billion, a P/E ratio of 22.69, a P/E/G ratio of 4.00 and a beta of 1.50. ASGN has a twelve month low of $63.27 and a twelve month high of $106.42.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, February 7th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.08. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. ASGN had a net margin of 4.93% and a return on equity of 15.52%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Sell-side analysts expect that ASGN will post 5.79 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other ASGN news, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 52,716 shares in the company, valued at approximately $4,935,271.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ASGN news, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 52,716 shares in the company, valued at approximately $4,935,271.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Randolph C. Blazer sold 7,746 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $94.31, for a total value of $730,525.26. Following the sale, the president now owns 107,923 shares in the company, valued at approximately $10,178,218.13. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

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.