ASGN Inc (ASGN) Expected to Announce Earnings of $1.09 Per Share

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Brokerages predict that ASGN Inc (NYSE:ASGN) will announce $1.09 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for ASGN’s earnings. The highest EPS estimate is $1.10 and the lowest is $1.09. ASGN reported earnings of $0.83 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 31.3%. The firm is scheduled to report its next earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that ASGN will report full-year earnings of $4.14 per share for the current fiscal year, with EPS estimates ranging from $4.11 to $4.17. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.61 per share, with EPS estimates ranging from $4.50 to $4.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for ASGN.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.06. The firm had revenue of $878.50 million during the quarter, compared to the consensus estimate of $865.03 million. ASGN had a return on equity of 19.07% and a net margin of 5.67%. The business’s revenue was up 34.5% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share.

Several brokerages have recently commented on ASGN. ValuEngine downgraded ASGN from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Zacks Investment Research upgraded ASGN from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Wednesday, April 25th. Robert W. Baird reiterated a “neutral” rating on shares of ASGN in a research note on Thursday, July 26th. BMO Capital Markets reduced their target price on ASGN from $101.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, April 26th. Finally, Credit Suisse Group began coverage on ASGN in a research note on Friday. They set a “neutral” rating and a $92.00 target price for the company. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $84.00.

ASGN traded down $0.56, reaching $90.90, during mid-day trading on Friday, Marketbeat.com reports. The company had a trading volume of 201,107 shares, compared to its average volume of 322,428. The company has a quick ratio of 3.02, a current ratio of 2.28 and a debt-to-equity ratio of 1.16. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 29.80, a P/E/G ratio of 2.21 and a beta of 1.91. ASGN has a 52 week low of $44.66 and a 52 week high of $94.25.

In related news, insider Theodore S. Hanson sold 12,409 shares of ASGN stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $92.85, for a total transaction of $1,152,175.65. Following the completion of the sale, the insider now directly owns 238,623 shares of the company’s stock, valued at approximately $22,156,145.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Peter T. Dameris sold 18,750 shares of ASGN stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $82.44, for a total value of $1,545,750.00. Following the sale, the chief executive officer now directly owns 151,621 shares of the company’s stock, valued at $12,499,635.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,437 shares of company stock valued at $4,075,926. 3.90% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in ASGN in the 2nd quarter valued at $559,307,000. Dimensional Fund Advisors LP acquired a new position in ASGN in the 2nd quarter valued at $166,294,000. FMR LLC acquired a new position in ASGN in the 2nd quarter valued at $117,721,000. Wells Fargo & Company MN acquired a new position in ASGN in the 2nd quarter valued at $92,244,000. Finally, PNC Financial Services Group Inc. acquired a new position in ASGN in the 2nd quarter valued at $57,703,000. 81.85% of the stock is owned by institutional investors and hedge funds.

About ASGN

ASGN Incorporated provides IT and professional services in the technology, digital, creative, healthcare technology, engineering, life sciences, and government sectors in the United States, Europe, and Canada. The company's Apex segment offers technical, digital, and creative and scientific professionals for contract, contract-to-hire, and permanent placement positions to Fortune 1000 and mid-market clients; IT staffing and consulting services comprising IT infrastructure, application development, project management, and healthcare IT professionals; and creative, marketing, advertising, and digital professionals.

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