William Blair Weighs in on ASGN Incorporated’s Q3 2024 Earnings (NYSE:ASGN)

ASGN Incorporated (NYSE:ASGN) – Equities researchers at William Blair dropped their Q3 2024 earnings per share estimates for ASGN in a report released on Thursday, April 25th. William Blair analyst M. Nolan now forecasts that the business services provider will post earnings of $1.38 per share for the quarter, down from their previous estimate of $1.65. The consensus estimate for ASGN’s current full-year earnings is $5.28 per share. William Blair also issued estimates for ASGN’s FY2024 earnings at $5.13 EPS and FY2025 earnings at $5.87 EPS.

ASGN (NYSE:ASGN) last released its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.16. ASGN had a return on equity of 14.90% and a net margin of 4.76%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business posted $1.38 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year.

Several other research firms have also recently issued reports on ASGN. Robert W. Baird increased their price objective on shares of ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Bank Of America (Bofa) reiterated an “underweight” rating and set a $70.00 price target on shares of ASGN in a research report on Monday, January 8th. Jefferies Financial Group boosted their price objective on ASGN to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Truist Financial raised their target price on ASGN from $93.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Finally, BMO Capital Markets dropped 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $96.67.

ASGN Stock Performance

Shares of ASGN opened at $96.44 on Monday. ASGN has a 52-week low of $63.27 and a 52-week high of $106.42. The firm has a market capitalization of $4.48 billion, a PE ratio of 22.32, a P/E/G ratio of 7.08 and a beta of 1.50. The firm has a 50-day moving average price of $99.67 and a 200 day moving average price of $93.82. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.56.

Institutional Investors Weigh In On ASGN

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in shares of ASGN by 8.1% during the 3rd quarter. SG Americas Securities LLC now owns 15,891 shares of the business services provider’s stock valued at $1,298,000 after buying an additional 1,193 shares during the period. Argent Capital Management LLC boosted its position in ASGN by 19.5% during the third quarter. Argent Capital Management LLC now owns 5,433 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 887 shares during the last quarter. Reinhart Partners LLC. grew its stake in ASGN by 6.0% in the third quarter. Reinhart Partners LLC. now owns 490,853 shares of the business services provider’s stock valued at $40,093,000 after purchasing an additional 27,871 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in ASGN by 38.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 615 shares of the business services provider’s stock worth $50,000 after purchasing an additional 171 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of ASGN by 3.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 110,247 shares of the business services provider’s stock worth $9,005,000 after purchasing an additional 3,787 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ASGN

In other ASGN news, Director Carol Lindstrom sold 1,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $97.04, for a total transaction of $97,040.00. Following the completion of the sale, the director now directly owns 5,639 shares of the company’s stock, valued at $547,208.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, President Randolph C. Blazer sold 7,746 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was 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 owns 107,923 shares of the company’s stock, valued at $10,178,218.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carol Lindstrom sold 1,000 shares of the company’s 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 transaction, the director now directly owns 5,639 shares in the company, valued at $547,208.56. The disclosure for this sale can be found here. Insiders sold 10,846 shares of company stock worth $1,029,157 in the last quarter. 3.40% of the stock is owned by company 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.