ASGN (NYSE:ASGN) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

ASGN (NYSE:ASGN) issued its earnings results on Wednesday. The business services provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03, Briefing.com reports. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.05 billion. ASGN had a return on equity of 14.15% and a net margin of 4.56%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 earnings per share. 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 NYSE:ASGN traded up $2.21 during trading on Friday, reaching $94.98. 110,256 shares of the company’s stock traded hands, compared to its average volume of 298,742. The stock has a market capitalization of $4.36 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 8.39 and a beta of 1.40. ASGN has a 12 month low of $75.85 and a 12 month high of $106.42. The company has a 50 day moving average of $92.97 and a 200-day moving average of $95.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.51 and a quick ratio of 2.51.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ASGN. Robert W. Baird increased their price objective on shares of ASGN from $99.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Canaccord Genuity Group reiterated a “buy” rating and issued a $115.00 price target on shares of ASGN in a report on Thursday. Finally, BMO Capital Markets decreased their target price on ASGN from $95.00 to $94.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Two 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 currently has a consensus rating of “Hold” and an average target price of $97.22.

Insiders Place Their Bets

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