Brokerages forecast that ASGN Inc (NYSE:ASGN) will post $920.81 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for ASGN’s earnings, with the lowest sales estimate coming in at $919.70 million and the highest estimate coming in at $921.69 million. ASGN reported sales of $685.17 million during the same quarter last year, which indicates a positive year over year growth rate of 34.4%. The firm is scheduled to report its next earnings results after the market closes on Wednesday, April 24th.
On average, analysts expect that ASGN will report full-year sales of $3.85 billion for the current year, with estimates ranging from $3.75 billion to $3.91 billion. For the next financial year, analysts expect that the firm will post sales of $4.12 billion, with estimates ranging from $3.98 billion to $4.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow ASGN.
ASGN (NYSE:ASGN) last released its quarterly earnings data on Wednesday, February 13th. The business services provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). ASGN had a net margin of 4.64% and a return on equity of 20.88%. The business had revenue of $929.65 million during the quarter, compared to the consensus estimate of $929.80 million. During the same period last year, the business posted $1.44 earnings per share. The firm’s quarterly revenue was up 36.9% on a year-over-year basis.
A number of research analysts have weighed in on the stock. Royal Bank of Canada assumed coverage on shares of ASGN in a report on Tuesday, April 16th. They issued an “outperform” rating and a $67.57 target price for the company. Zacks Investment Research downgraded shares of ASGN from a “buy” rating to a “hold” rating in a report on Tuesday, December 25th. BMO Capital Markets reiterated a “buy” rating and issued a $77.00 target price on shares of ASGN in a report on Monday, January 21st. Jefferies Financial Group assumed coverage on shares of ASGN in a report on Tuesday, March 12th. They issued a “buy” rating and a $70.00 target price for the company. Finally, Credit Suisse Group lowered their target price on shares of ASGN from $78.00 to $62.00 in a report on Friday, December 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.57.
In other news, Director William E. Brock sold 1,480 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $61.72, for a total value of $91,345.60. Following the completion of the sale, the director now owns 17,513 shares in the company, valued at $1,080,902.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ASGN. Essex Investment Management Co. LLC purchased a new stake in ASGN during the fourth quarter worth about $98,000. Group One Trading L.P. purchased a new stake in ASGN during the fourth quarter worth about $100,000. Cutler Group LP increased its holdings in ASGN by 596.0% during the fourth quarter. Cutler Group LP now owns 2,102 shares of the business services provider’s stock worth $114,000 after buying an additional 1,800 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in ASGN during the fourth quarter worth about $120,000. Finally, Advisor Group Inc. increased its holdings in ASGN by 12.7% during the fourth quarter. Advisor Group Inc. now owns 2,256 shares of the business services provider’s stock worth $123,000 after buying an additional 255 shares during the last quarter. Institutional investors and hedge funds own 90.15% of the company’s stock.
Shares of ASGN stock traded up $0.11 during trading hours on Thursday, reaching $68.57. The company’s stock had a trading volume of 152,884 shares, compared to its average volume of 258,565. ASGN has a one year low of $51.05 and a one year high of $94.25. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.95. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.93.
ASGN Incorporated provides information technology (IT) and professional staffing services in the technology, digital, creative, engineering, and life sciences fields across commercial and government sectors in the United States and internationally. The company operates through Apex, Oxford, and ECS segments.
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