ASGN (NYSE:ASGN) Releases Q3 2021 Earnings Guidance

ASGN (NYSE:ASGN) updated its third quarter 2021 earnings guidance on Friday. The company provided EPS guidance of $1.440-$1.510 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.380. The company issued revenue guidance of $1.05 billion-$1.07 billion, compared to the consensus revenue estimate of $1.05 billion.ASGN also updated its FY 2021 guidance to $5.060-$5.170 EPS.

Shares of NYSE:ASGN traded down $0.55 during trading on Friday, hitting $110.18. 696,296 shares of the company’s stock were exchanged, compared to its average volume of 205,604. The business’s 50-day simple moving average is $104.72 and its 200 day simple moving average is $101.72. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 1.93 and a beta of 2.20. ASGN has a 52-week low of $61.70 and a 52-week high of $114.45. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.75 and a quick ratio of 2.75.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Tuesday, July 27th. The business services provider reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.05. The business had revenue of $974.90 million during the quarter, compared to the consensus estimate of $964.25 million. ASGN had a return on equity of 16.66% and a net margin of 5.48%. On average, sell-side analysts anticipate that ASGN will post 5.05 EPS for the current fiscal year.

Several brokerages have commented on ASGN. Hanson reiterated a sell rating on shares of ASGN in a research note on Friday, August 20th. BMO Capital Markets boosted their target price on ASGN from $121.00 to $128.00 and gave the stock an outperform rating in a research report on Thursday. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded ASGN from a sell rating to a hold rating and set a $126.00 price target for the company in a report on Tuesday, August 31st.

In other ASGN news, CEO Theodore S. Hanson sold 45,098 shares of the business’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $103.39, for a total transaction of $4,662,682.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Theodore S. Hanson sold 8,902 shares of ASGN stock in a transaction dated Friday, August 20th. The stock was sold at an average price of $102.40, for a total transaction of $911,564.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,250 shares of company stock worth $5,807,527. Insiders own 3.20% of the company’s stock.

ASGN Company Profile

ASGN, Inc engages in the provision of information technology and professional services in the technology, digital, creative, engineering, and life sciences fields in the commercial and government sectors. It operates through the following segments: Apex, Oxford, and ECS. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.

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Earnings History and Estimates for ASGN (NYSE:ASGN)

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