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. ASGN also updated its Q2 2024 guidance to 1.280-1.360 EPS.

ASGN Stock Performance

Shares of ASGN stock traded down $2.58 during midday trading on Thursday, hitting $99.53. The company had a trading volume of 267,471 shares, compared to its average volume of 242,851. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 4.05 and a beta of 1.50. ASGN has a 12-month low of $63.27 and a 12-month high of $106.42. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $99.56 and a 200 day simple moving average of $93.32.

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

Wall Street Analyst Weigh In

ASGN has been the subject of several recent research reports. Bank Of America (Bofa) reissued an underweight rating and set a $70.00 target price on shares of ASGN in a report on Monday, January 8th. Robert W. Baird boosted their price objective on ASGN from $99.00 to $104.00 and gave the company a neutral rating in a report on Thursday. Truist Financial upped their target price on ASGN from $93.00 to $110.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. BMO Capital Markets boosted their price target on ASGN to $110.00 and gave the company a hold rating in a report on Wednesday, January 10th. Finally, Canaccord Genuity Group reaffirmed a buy rating and set a $110.00 price objective on shares of ASGN in a research note on Wednesday, January 3rd. Three 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, the stock currently has an average rating of Hold and a consensus target price of $95.20.

Insider Activity at ASGN

In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $93.62, for a total transaction of $102,982.00. Following the completion of the sale, the senior vice president now directly owns 52,716 shares in the company, valued at $4,935,271.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the business’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 directly owns 52,716 shares in the company, valued at $4,935,271.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $730,525.26. Following the completion of the sale, the president now owns 107,923 shares of the company’s stock, valued at approximately $10,178,218.13. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate 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.