ASGN (NYSE:ASGN) Releases Q2 Earnings Guidance

ASGN (NYSE:ASGN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.28-1.36 for the period, compared to the consensus estimate of $1.36. The company issued revenue guidance of $1.034.5-1.0545 billion, compared to the consensus revenue estimate of $1.07 billion. ASGN also updated its Q2 2024 guidance to 1.280-1.360 EPS.

ASGN Stock Performance

Shares of ASGN traded down $2.58 during midday trading on Thursday, hitting $99.53. 267,471 shares of the stock traded hands, compared to its average volume of 242,851. ASGN has a 1-year low of $63.27 and a 1-year high of $106.42. The firm has a market capitalization of $4.63 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 4.05 and a beta of 1.50. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.47 and a current ratio of 2.47. The business’s 50 day moving average price is $99.56 and its two-hundred day moving average price is $93.32.

ASGN (NYSE:ASGN) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.16. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. ASGN had a net margin of 4.93% and a return on equity of 15.52%. ASGN’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 EPS. Equities research analysts predict that ASGN will post 5.79 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of ASGN from $99.00 to $104.00 and gave the company a neutral rating in a research report on Thursday. Jefferies Financial Group increased their target price on shares of ASGN to $88.00 and gave the company a hold rating in a research report on Wednesday, January 10th. Canaccord Genuity Group reiterated a buy rating and issued a $110.00 target price on shares of ASGN in a research report on Wednesday, January 3rd. BMO Capital Markets increased their target price on shares of ASGN to $110.00 and gave the company a hold rating in a research report on Wednesday, January 10th. Finally, Bank Of America (Bofa) restated an underweight rating and set a $70.00 price objective on shares of ASGN in a research report on Monday, January 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $95.20.

Insider Transactions at ASGN

In other news, President Randolph C. Blazer sold 7,746 shares of the 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 completion of the sale, the president now directly owns 107,923 shares of the company’s stock, valued at $10,178,218.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 SEC, which is available through this hyperlink. Also, President Randolph C. Blazer sold 7,746 shares of the firm’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 transaction of $730,525.26. Following the transaction, the president now directly owns 107,923 shares in the company, valued at approximately $10,178,218.13. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

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.