ASGN (NYSE:ASGN) Releases Earnings Results, Meets Estimates

ASGN (NYSE:ASGN) released its quarterly earnings data on Wednesday. The business services provider reported $1.16 earnings per share for the quarter, hitting the consensus estimate of $1.16, Briefing.com reports. ASGN had a net margin of 4.76% and a return on equity of 14.81%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $1.38 EPS. ASGN’s revenue for the quarter was down 7.1% compared to the same quarter last year. 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 $0.46 during trading on Friday, hitting $98.26. The company’s stock had a trading volume of 151,833 shares, compared to its average volume of 245,205. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 4.10 and a beta of 1.50. ASGN has a 52 week low of $63.27 and a 52 week high of $106.42. The stock has a 50-day moving average price of $99.59 and a two-hundred day moving average price of $93.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 2.47.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several analysts have issued reports on ASGN shares. 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. Bank Of America (Bofa) reaffirmed an “underweight” rating and set a $70.00 price target on shares of ASGN in a report on Monday, January 8th. BMO Capital Markets lifted their price objective on shares of ASGN to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Jefferies Financial Group increased their price objective on shares of ASGN to $88.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Finally, Truist Financial lifted their target price on shares of ASGN from $93.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $95.20.

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.