ASGN (NYSE:ASGN) Announces Earnings Results, Beats Estimates By $0.03 EPS

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

ASGN Trading Up 2.4 %

ASGN stock traded up $2.21 during trading hours on Friday, hitting $94.98. The stock had a trading volume of 110,256 shares, compared to its average volume of 298,742. The business’s 50 day simple moving average is $92.97 and its 200-day simple moving average is $95.92. ASGN has a one year low of $75.85 and a one year high of $106.42. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 8.39 and a beta of 1.40. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.56.

Insider Transactions at ASGN

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

Analysts Set New Price Targets

Several analysts recently issued reports on ASGN shares. BMO Capital Markets reduced their price target on shares of ASGN from $95.00 to $94.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Robert W. Baird raised their target price on ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $115.00 price target on shares of ASGN in a report on Thursday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, ASGN presently 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.