ASGN (NYSE:ASGN) Issues Earnings Results

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

ASGN Stock Up 3.0 %

NYSE:ASGN traded up $2.76 on Friday, hitting $95.53. 125,326 shares of the company’s stock traded hands, compared to its average volume of 298,836. The firm has a 50-day moving average price of $92.97 and a 200-day moving average price of $95.92. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.56. ASGN has a 1 year low of $75.85 and a 1 year high of $106.42. The company has a market cap of $4.38 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 8.39 and a beta of 1.40.

Analysts Set New Price Targets

A number of research firms have issued reports on ASGN. Robert W. Baird raised their target price on ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. BMO Capital Markets cut their target price on ASGN from $95.00 to $94.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $115.00 target price on shares of ASGN in a research note on Thursday. 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. Based on data from MarketBeat.com, ASGN has a consensus rating of “Hold” and a consensus target price of $97.22.

Insiders Place Their Bets

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

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.