ASGN (NYSE:ASGN) Issues Quarterly Earnings Results

ASGN (NYSE:ASGN) issued its quarterly earnings results on Wednesday. The business services provider reported $1.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.16, Briefing.com reports. ASGN had a return on equity of 15.52% and a net margin of 4.93%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $1.38 earnings per share. ASGN’s revenue 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 Performance

Shares of ASGN traded down $1.78 during mid-day trading on Thursday, reaching $100.33. 191,810 shares of the company’s stock traded hands, compared to its average volume of 241,853. The stock has a market capitalization of $4.67 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 4.05 and a beta of 1.50. The business’s 50-day moving average price is $99.56 and its 200-day moving average price is $93.32. ASGN has a 12 month low of $63.27 and a 12 month high of $106.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.47 and a current ratio of 2.47.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ASGN shares. Bank Of America (Bofa) restated an “underweight” rating and set a $70.00 price target on shares of ASGN in a research note on Monday, January 8th. 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. Robert W. Baird lifted their price target on shares of ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday. BMO Capital Markets boosted their price objective on shares of ASGN to $110.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Finally, Truist Financial upped their price target on 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 assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.20.

Insider Activity

In other ASGN 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 value of $102,982.00. Following 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 SEC, which is available through this hyperlink. In related news, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $94.31, for a total value of $730,525.26. Following the completion of the sale, the president now directly owns 107,923 shares of the company’s stock, valued at approximately $10,178,218.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the firm’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 sale, the senior vice president now owns 52,716 shares of the company’s stock, valued at $4,935,271.92. The disclosure for this sale can be found here. 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.