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 Stock Performance

NYSE:ASGN traded down $0.50 during trading hours on Friday, reaching $98.22. 229,100 shares of the company’s stock were exchanged, compared to its average volume of 246,266. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 4.10 and a beta of 1.50. The company has a 50-day moving average of $99.59 and a 200 day moving average of $93.36. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.55. ASGN has a 1-year low of $63.27 and a 1-year high of $106.42.

ASGN (NYSE:ASGN) last issued its quarterly 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. The firm 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 14.81%. ASGN’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 EPS. Research analysts anticipate that ASGN will post 5.79 EPS for the current year.

Wall Street Analyst Weigh In

ASGN has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a buy rating and issued a $110.00 price target on shares of ASGN in a report on Wednesday, January 3rd. Jefferies Financial Group increased their price target on shares of ASGN to $88.00 and gave the company a hold rating in a report on Wednesday, January 10th. BMO Capital Markets cut their price target on shares of ASGN from $95.00 to $94.00 and set a market perform rating for the company in a report on Friday. Bank Of America (Bofa) reiterated an underweight rating and issued a $70.00 price target on shares of ASGN in a report on Monday, January 8th. Finally, Robert W. Baird raised their target price on shares of ASGN from $99.00 to $104.00 and gave the company a neutral rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, ASGN has a consensus rating of Hold and a consensus price target of $93.60.

Insider Activity at ASGN

In other news, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $93.62, for a total value of $102,982.00. Following the completion of the sale, the senior vice president now directly owns 52,716 shares of the company’s stock, valued at $4,935,271.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $94.31, for a total transaction of $730,525.26. Following the sale, the president now owns 107,923 shares in the company, valued at $10,178,218.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $93.62, for a total value of $102,982.00. Following the sale, 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. 3.40% of the stock is currently owned by company insiders.

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.