ASGN (NYSE:ASGN) Issues Quarterly Earnings Results

ASGN (NYSE:ASGN) released its earnings results on Wednesday. The business services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03, Briefing.com reports. ASGN had a net margin of 4.56% and a return on equity of 14.15%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company earned $1.59 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. ASGN updated its Q3 guidance to $1.31-$1.39 EPS and its Q3 2024 guidance to 1.310-1.390 EPS.

ASGN Stock Performance

Shares of ASGN stock opened at $92.77 on Friday. The business’s 50 day moving average price is $92.97 and its 200 day moving average price is $95.92. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 8.39 and a beta of 1.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.51 and a current ratio of 2.51. ASGN has a one year low of $75.85 and a one year high of $106.42.

Insider Buying and Selling at ASGN

In other ASGN news, Director Carol Lindstrom sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $97.04, for a total value 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 approximately $547,208.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ASGN news, President Randolph C. Blazer sold 6,000 shares of ASGN stock in a transaction on Monday, May 6th. The stock was sold at an average price of $98.00, for a total value of $588,000.00. Following the sale, the president now owns 101,923 shares in the company, valued at $9,988,454. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carol Lindstrom sold 1,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $97.04, for a total value of $97,040.00. Following the transaction, the director now owns 5,639 shares of the company’s stock, valued at $547,208.56. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ASGN shares. BMO Capital Markets lowered their price objective on ASGN from $95.00 to $94.00 and set a “market perform” rating on the stock in a report on Friday, April 26th. Canaccord Genuity Group reiterated a “buy” rating and set a $115.00 price target on shares of ASGN in a research report on Thursday. Finally, Robert W. Baird increased their price objective on ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, ASGN presently has a consensus rating of “Hold” and an average price target of $97.22.

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.