ASGN (NYSE:ASGN) Announces Quarterly Earnings Results

ASGN (NYSE:ASGN) announced its quarterly earnings results on Wednesday. The business services provider reported $1.16 EPS for the quarter, meeting the consensus estimate of $1.16, Briefing.com reports. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. ASGN had a net margin of 4.76% and a return on equity of 14.81%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. ASGN updated its Q2 guidance to $1.28-1.36 EPS and its Q2 2024 guidance to 1.280-1.360 EPS.

ASGN Trading Down 0.5 %

Shares of ASGN stock traded down $0.47 on Friday, hitting $98.25. The stock had a trading volume of 138,977 shares, compared to its average volume of 245,107. The stock’s 50-day simple moving average is $99.59 and its two-hundred day simple moving average is $93.36. ASGN has a one year low of $63.27 and a one year high of $106.42. 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 stock has a market cap of $4.57 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 4.10 and a beta of 1.50.

Wall Street Analysts Forecast Growth

ASGN has been the topic of a number of research analyst reports. BMO Capital Markets upped their target price on ASGN to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Truist Financial boosted their price target on shares of ASGN from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. 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. Jefferies Financial Group lifted their price objective on shares of ASGN to $88.00 and gave the stock a “hold” rating in a report on Wednesday, January 10th. Finally, 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. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $95.20.

Insider Activity at ASGN

In other news, President Randolph C. Blazer sold 7,746 shares of the business’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 transaction of $730,525.26. Following the transaction, the president now directly owns 107,923 shares of the company’s stock, valued at $10,178,218.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $93.62, for a total value of $102,982.00. Following the transaction, the senior vice president now owns 52,716 shares in the company, valued at approximately $4,935,271.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Randolph C. Blazer sold 7,746 shares of the firm’s stock in a transaction dated 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 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.