ASGN (NYSE:ASGN) Updates Q2 Earnings Guidance

ASGN (NYSE:ASGN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.28-1.36 for the period, compared to the consensus earnings per share 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.

ASGN Trading Down 1.2 %

Shares of ASGN stock traded down $1.21 on Friday, reaching $97.51. 414,790 shares of the company’s stock were exchanged, compared to its average volume of 274,105. The company has a market capitalization of $4.53 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 4.06 and a beta of 1.50. ASGN has a 52 week low of $63.27 and a 52 week high of $106.42. The firm’s 50-day moving average is $99.60 and its two-hundred day moving average is $93.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.47 and a current ratio of 2.47.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.16. ASGN had a return on equity of 14.90% and a net margin of 4.76%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $1.38 earnings per share. ASGN’s revenue for the quarter was down 7.1% on a year-over-year basis. Sell-side analysts predict that ASGN will post 5.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ASGN. Canaccord Genuity Group reissued a buy rating and issued a $110.00 price target on shares of ASGN in a research report on Wednesday, January 3rd. Robert W. Baird upped 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 upped their price objective on ASGN to $88.00 and gave the company a hold rating in a research note on Wednesday, January 10th. Bank Of America (Bofa) restated an underweight rating and issued a $70.00 price objective on shares of ASGN in a research note on Monday, January 8th. Finally, BMO Capital Markets reduced their price objective on ASGN from $95.00 to $94.00 and set a market perform rating for the company in a research note on Friday. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ASGN presently has an average rating of Hold and an average target price of $93.60.

Insider Buying and Selling at ASGN

In other ASGN news, President Randolph C. Blazer sold 7,746 shares of the firm’s 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 sale, the president now owns 107,923 shares of the company’s stock, valued at approximately $10,178,218.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $93.62, for a total transaction of $102,982.00. Following the transaction, the senior vice president now directly owns 52,716 shares of the company’s stock, valued at approximately $4,935,271.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Randolph C. Blazer sold 7,746 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $94.31, for a total value of $730,525.26. Following the transaction, the president now directly owns 107,923 shares in the company, valued at $10,178,218.13. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

ASGN Company Profile

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.