ASGN (NYSE:ASGN) Releases Q2 Earnings Guidance

ASGN (NYSE:ASGN) updated its second quarter earnings guidance on Wednesday. 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.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ASGN. Truist Financial increased their target price on shares of ASGN from $93.00 to $110.00 and gave the company a buy rating in a research report on Tuesday, January 2nd. 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. 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 reissued a buy rating and set a $110.00 target price on shares of ASGN in a research report on Wednesday, January 3rd. Finally, Bank Of America (Bofa) reaffirmed an underweight rating and issued a $70.00 price target on shares of ASGN in a report on Monday, January 8th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $93.50.

ASGN Trading Up 1.3 %

Shares of ASGN stock traded up $1.33 during trading hours on Wednesday, hitting $102.11. The company had a trading volume of 405,841 shares, compared to its average volume of 242,617. The company’s fifty day moving average is $99.43 and its 200 day moving average is $93.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 2.47. ASGN has a fifty-two week low of $63.27 and a fifty-two week high of $106.42. The stock has a market capitalization of $4.75 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 4.00 and a beta of 1.50.

ASGN (NYSE:ASGN) last announced its earnings results on Wednesday, February 7th. The business services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.08. ASGN had a net margin of 4.93% and a return on equity of 15.52%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $1.51 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Research analysts expect that ASGN will post 5.79 earnings per share for the current fiscal year.

Insider Activity at ASGN

In other news, President Randolph C. Blazer sold 7,746 shares of the firm’s stock in a transaction 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 owns 107,923 shares in the company, valued at approximately $10,178,218.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction dated 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 transaction, the president now owns 107,923 shares in the company, valued at approximately $10,178,218.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

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.