Zacks: Analysts Expect ASGN Inc (NYSE:ASGN) Will Announce Quarterly Sales of $998.90 Million

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Brokerages expect ASGN Inc (NYSE:ASGN) to report sales of $998.90 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for ASGN’s earnings, with the highest sales estimate coming in at $1.00 billion and the lowest estimate coming in at $997.50 million. ASGN reported sales of $906.45 million in the same quarter last year, which suggests a positive year over year growth rate of 10.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that ASGN will report full-year sales of $3.90 billion for the current year, with estimates ranging from $3.88 billion to $3.91 billion. For the next fiscal year, analysts forecast that the business will post sales of $4.18 billion, with estimates ranging from $4.13 billion to $4.24 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow ASGN.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.09). The company had revenue of $972.30 million during the quarter, compared to analysts’ expectations of $972.24 million. ASGN had a return on equity of 19.56% and a net margin of 4.64%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 EPS.

Several analysts recently weighed in on ASGN shares. Royal Bank of Canada set a $76.00 price target on ASGN and gave the stock a “buy” rating in a research note on Friday, July 26th. Credit Suisse Group cut their price target on ASGN from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. SunTrust Banks cut their price target on ASGN to $84.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, ValuEngine upgraded ASGN from a “strong sell” rating to a “sell” rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. ASGN currently has an average rating of “Buy” and a consensus price target of $74.00.

A number of institutional investors and hedge funds have recently modified their holdings of ASGN. Essex Investment Management Co. LLC raised its holdings in ASGN by 8.4% in the 2nd quarter. Essex Investment Management Co. LLC now owns 76,847 shares of the business services provider’s stock worth $4,657,000 after purchasing an additional 5,974 shares during the period. Nuveen Asset Management LLC bought a new position in ASGN in the 2nd quarter worth $17,977,000. Price T Rowe Associates Inc. MD raised its holdings in ASGN by 0.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 906,931 shares of the business services provider’s stock worth $54,960,000 after purchasing an additional 2,483 shares during the period. Argent Capital Management LLC purchased a new stake in ASGN in the 2nd quarter worth $992,000. Finally, D. E. Shaw & Co. Inc. increased its stake in ASGN by 1.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 95,929 shares of the business services provider’s stock worth $5,813,000 after buying an additional 918 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Shares of ASGN stock traded up $0.15 during midday trading on Friday, hitting $59.39. The company had a trading volume of 224,800 shares, compared to its average volume of 321,529. The company has a quick ratio of 2.20, a current ratio of 2.14 and a debt-to-equity ratio of 0.80. The firm has a market cap of $3.20 billion, a PE ratio of 13.56, a P/E/G ratio of 1.44 and a beta of 1.98. The firm has a 50 day moving average price of $60.31. ASGN has a 52-week low of $50.33 and a 52-week high of $93.82.

About ASGN

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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