ASGN Inc (NYSE:ASGN) Expected to Announce Quarterly Sales of $998.90 Million

Brokerages expect that ASGN Inc (NYSE:ASGN) will report $998.90 million in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for ASGN’s earnings, with the highest sales estimate coming in at $1.00 billion and the lowest estimate coming in at $997.50 million. ASGN posted sales of $906.45 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The firm is expected to report its next quarterly earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that ASGN will report full-year sales of $3.90 billion for the current year, with estimates ranging from $3.88 billion to $3.91 billion. For the next financial year, analysts forecast that the company will report sales of $4.18 billion, with estimates ranging from $4.13 billion to $4.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow ASGN.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.19 by ($0.09). The business had revenue of $972.30 million for the quarter, compared to the consensus estimate of $972.24 million. ASGN had a return on equity of 19.56% and a net margin of 4.64%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share.

ASGN has been the subject of a number of recent research reports. Credit Suisse Group dropped their price target on shares of ASGN from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, May 28th. SunTrust Banks dropped their price target on shares of ASGN to $84.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Royal Bank of Canada set a $76.00 price target on shares of ASGN and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, ValuEngine raised shares of ASGN from a “strong sell” rating to a “sell” rating in a research note on Friday, June 7th. 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. ASGN currently has a consensus rating of “Buy” and an average price target of $74.00.

A number of large investors have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan increased its position in shares of ASGN by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,740 shares of the business services provider’s stock worth $590,000 after acquiring an additional 170 shares in the last quarter. First Mercantile Trust Co. increased its position in shares of ASGN by 16.8% during the first quarter. First Mercantile Trust Co. now owns 1,250 shares of the business services provider’s stock worth $79,000 after acquiring an additional 180 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of ASGN by 1.4% during the first quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the business services provider’s stock worth $895,000 after acquiring an additional 200 shares in the last quarter. Private Capital Group LLC increased its position in shares of ASGN by 47.2% during the second quarter. Private Capital Group LLC now owns 802 shares of the business services provider’s stock worth $63,000 after acquiring an additional 257 shares in the last quarter. Finally, Chatham Capital Group Inc. increased its position in shares of ASGN by 0.7% during the first quarter. Chatham Capital Group Inc. now owns 36,015 shares of the business services provider’s stock worth $2,287,000 after acquiring an additional 263 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Shares of ASGN traded up $1.98 on Friday, reaching $61.37. 294,400 shares of the company’s stock were exchanged, compared to its average volume of 336,880. The company has a current ratio of 2.14, a quick ratio of 2.20 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $3.13 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.42 and a beta of 1.98. The business has a 50 day moving average price of $60.41 and a two-hundred day moving average price of $61.34. ASGN has a 12 month low of $50.33 and a 12 month high of $93.82.

About ASGN

ASGN Incorporated provides information technology (IT) and professional staffing services in the technology, digital, creative, engineering, and life sciences fields across commercial and government sectors in the United States and internationally. The company operates through Apex, Oxford, and ECS segments.

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Earnings History and Estimates for ASGN (NYSE:ASGN)

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