ASGN (NYSE:ASGN) Updates Q3 Earnings Guidance

ASGN (NYSE:ASGN) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.31-$1.39 for the period, compared to the consensus earnings per share estimate of $1.46. The company issued revenue guidance of $1.024-$1.044 billion, compared to the consensus revenue estimate of $1.08 billion. ASGN also updated its Q3 2024 guidance to 1.310-1.390 EPS.

ASGN Stock Performance

ASGN stock traded down $9.06 during mid-day trading on Thursday, reaching $92.77. The company’s stock had a trading volume of 843,886 shares, compared to its average volume of 300,108. The firm’s fifty day moving average price is $93.14 and its two-hundred day moving average price is $95.95. The company has a market capitalization of $4.26 billion, a P/E ratio of 23.57, a PEG ratio of 8.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.51 and a current ratio of 2.51. ASGN has a 12-month low of $75.85 and a 12-month high of $106.42.

ASGN (NYSE:ASGN) last released its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.05 billion. ASGN had a net margin of 4.76% and a return on equity of 14.90%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 EPS. Sell-side analysts predict that ASGN will post 5.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ASGN shares. Robert W. Baird boosted their price target on shares of ASGN from $99.00 to $104.00 and gave the company a neutral rating in a research report on Thursday, April 25th. Canaccord Genuity Group restated a buy rating and set a $115.00 price target on shares of ASGN in a research report on Thursday. Finally, BMO Capital Markets reduced their price target on shares of ASGN from $95.00 to $94.00 and set a market perform rating for the company in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, ASGN currently has a consensus rating of Hold and an average price target of $97.22.

Insiders Place Their Bets

In other ASGN news, President Randolph C. Blazer sold 6,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $98.00, for a total value of $588,000.00. Following the completion of the sale, the president now directly owns 101,923 shares of the company’s stock, valued at $9,988,454. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ASGN news, Director Marty R. Kittrell sold 1,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $98.61, for a total value of $98,610.00. Following the transaction, the director now owns 4,316 shares in the company, valued at $425,600.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Randolph C. Blazer sold 6,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $98.00, for a total transaction of $588,000.00. Following the completion of 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. Insiders sold 8,000 shares of company stock valued at $783,650 over the last three months. Insiders own 3.20% of the company’s stock.

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.