ASGN Inc (NYSE:ASGN) Expected to Announce Quarterly Sales of $905.65 Million

Analysts expect ASGN Inc (NYSE:ASGN) to post $905.65 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for ASGN’s earnings, with the lowest sales estimate coming in at $891.00 million and the highest estimate coming in at $933.10 million. ASGN posted sales of $972.30 million during the same quarter last year, which suggests a negative year-over-year growth rate of 6.9%. The company is expected to announce its next quarterly earnings results on Wednesday, July 22nd.

On average, analysts expect that ASGN will report full year sales of $3.78 billion for the current financial year, with estimates ranging from $3.72 billion to $3.87 billion. For the next year, analysts anticipate that the firm will post sales of $4.06 billion, with estimates ranging from $3.83 billion to $4.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for ASGN.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Thursday, April 30th. The business services provider reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.24. The company had revenue of $990.50 million for the quarter, compared to the consensus estimate of $943.04 million. ASGN had a net margin of 4.60% and a return on equity of 18.89%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 EPS.

ASGN has been the topic of a number of analyst reports. SunTrust Banks lifted their price objective on shares of ASGN from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. BMO Capital Markets cut their price objective on shares of ASGN from $78.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 20th. Zacks Investment Research raised shares of ASGN from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Wednesday, June 3rd. Credit Suisse Group lifted their price objective on shares of ASGN from $43.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Royal Bank of Canada lifted their price objective on shares of ASGN from $54.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $62.38.

NYSE ASGN traded up $1.04 during trading on Thursday, reaching $66.68. 387,724 shares of the company’s stock traded hands, compared to its average volume of 412,830. The company’s 50 day simple moving average is $61.39 and its two-hundred day simple moving average is $56.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.19 and a quick ratio of 2.19. ASGN has a 12-month low of $29.04 and a 12-month high of $72.66. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 2.93 and a beta of 2.31.

In other news, Director Jonathan S. Holman sold 1,197 shares of ASGN stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $52.20, for a total transaction of $62,483.40. Following the completion of the transaction, the director now directly owns 14,005 shares of the company’s stock, valued at approximately $731,061. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan S. Holman sold 500 shares of ASGN stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $54.42, for a total transaction of $27,210.00. Following the transaction, the director now directly owns 14,005 shares of the company’s stock, valued at $762,152.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,151 shares of company stock valued at $2,403,163. Company insiders own 3.90% of the company’s stock.

Large investors have recently bought and sold shares of the company. Bartlett & Co. LLC purchased a new stake in ASGN in the 1st quarter worth $26,000. CWM LLC purchased a new stake in ASGN in the 1st quarter worth $35,000. Synovus Financial Corp purchased a new stake in ASGN in the 1st quarter worth $37,000. Point72 Hong Kong Ltd purchased a new stake in ASGN in the 4th quarter worth $98,000. Finally, Nisa Investment Advisors LLC increased its holdings in ASGN by 113.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,600 shares of the business services provider’s stock worth $57,000 after acquiring an additional 850 shares in the last quarter. 90.53% of the stock is owned by hedge funds and other institutional investors.

About ASGN

ASGN Incorporated (NYSE: ASGN) is one of the foremost providers of IT and professional services in the technology, digital, creative, engineering and life sciences fields across commercial and government sectors. Operating through its Apex, Oxford and ECS segments, ASGN helps leading corporate enterprises and government organizations develop, implement and operate critical IT and business solutions through its integrated offering of professional staffing and IT solutions.

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Earnings History and Estimates for ASGN (NYSE:ASGN)

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