ASGN (NYSE:ASGN) Issues Earnings Results

ASGN (NYSE:ASGN) posted its earnings results on Wednesday. The business services provider reported $1.16 EPS for the quarter, meeting analysts’ consensus estimates of $1.16, Briefing.com reports. ASGN had a return on equity of 14.81% and a net margin of 4.76%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. ASGN updated its Q2 guidance to $1.28-1.36 EPS and its Q2 2024 guidance to 1.280-1.360 EPS.

ASGN Stock Down 3.3 %

ASGN stock opened at $98.74 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.47 and a current ratio of 2.47. The stock has a 50-day simple moving average of $99.59 and a 200-day simple moving average of $93.36. ASGN has a fifty-two week low of $63.27 and a fifty-two week high of $106.42. The company has a market capitalization of $4.59 billion, a P/E ratio of 22.86, a PEG ratio of 4.10 and a beta of 1.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ASGN shares. BMO Capital Markets lifted their price objective on ASGN to $110.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Robert W. Baird lifted their price objective on ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group lifted their price objective on ASGN to $88.00 and gave the company a “hold” rating in a research note 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 note on Wednesday, January 3rd. Finally, Truist Financial boosted 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. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, ASGN presently has an average rating of “Hold” and a consensus price target of $95.20.

Insiders Place Their Bets

In other ASGN news, President Randolph C. Blazer sold 7,746 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $94.31, for a total transaction of $730,525.26. Following the transaction, the president now owns 107,923 shares in the company, valued at approximately $10,178,218.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the company’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 value of $102,982.00. Following the sale, the senior vice president now owns 52,716 shares in the company, valued at approximately $4,935,271.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Randolph C. Blazer sold 7,746 shares of the 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 sale, the president now owns 107,923 shares in the company, 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 insiders.

About ASGN

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.