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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ASGN. Robert W. Baird lifted their price objective on ASGN from $99.00 to $104.00 and gave the stock a neutral rating in a research report on Thursday. BMO Capital Markets lowered their target price on shares of ASGN from $95.00 to $94.00 and set a market perform rating for the company in a research note on Friday. Canaccord Genuity Group reaffirmed a buy rating and issued a $110.00 target price on shares of ASGN in a research note on Wednesday, January 3rd. Bank Of America (Bofa) reaffirmed an underweight rating and issued a $70.00 target price on shares of ASGN in a research note on Monday, January 8th. Finally, Truist Financial lifted their target price on shares of ASGN from $93.00 to $110.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ASGN presently has an average rating of Hold and a consensus price target of $93.60.

ASGN Trading Down 1.2 %

Shares of NYSE ASGN traded down $1.21 during trading on Friday, hitting $97.51. 414,790 shares of the company traded hands, compared to its average volume of 274,105. ASGN has a 1 year low of $63.27 and a 1 year high of $106.42. The company has a 50-day moving average price of $99.60 and a 200-day moving average price of $93.47. The firm has a market capitalization of $4.53 billion, a P/E ratio of 22.57, a P/E/G ratio of 4.06 and a beta of 1.50. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.56.

ASGN (NYSE:ASGN) last announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.16. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. ASGN had a net margin of 4.76% and a return on equity of 14.90%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 EPS. On average, equities analysts predict that ASGN will post 5.65 EPS for the current year.

Insider Activity at ASGN

In related news, President Randolph C. Blazer sold 7,746 shares of ASGN stock in a transaction on Friday, February 9th. The shares were 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Randolph C. Blazer sold 7,746 shares of ASGN stock in a transaction on Friday, February 9th. The shares were 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jennifer Hankes Painter sold 1,100 shares of ASGN stock in a transaction on 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 owns 52,716 shares in the company, valued at approximately $4,935,271.92. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

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.