ASGN (NYSE:ASGN) Releases Quarterly Earnings Results, Meets Expectations

ASGN (NYSE:ASGN) issued its quarterly earnings results on Wednesday. The business services provider reported $1.16 earnings per share for the quarter, hitting the consensus estimate of $1.16, Briefing.com reports. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. ASGN had a return on equity of 14.81% and a net margin of 4.76%. ASGN’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 EPS. ASGN updated its Q2 guidance to $1.28-1.36 EPS and its Q2 2024 guidance to 1.280-1.360 EPS.

ASGN Stock Performance

NYSE ASGN traded down $0.47 during trading on Friday, reaching $98.25. The company’s stock had a trading volume of 138,977 shares, compared to its average volume of 245,107. The business’s fifty day moving average price is $99.59 and its 200-day moving average price is $93.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.47 and a current ratio of 2.47. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 4.10 and a beta of 1.50. ASGN has a twelve month low of $63.27 and a twelve month high of $106.42.

Insider Buying and Selling at ASGN

In other news, President Randolph C. Blazer sold 7,746 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $94.31, for a total value of $730,525.26. Following the completion of the sale, the president now owns 107,923 shares in the company, valued at approximately $10,178,218.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Randolph C. Blazer sold 7,746 shares of ASGN stock in a transaction that occurred on 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 directly owns 107,923 shares in the company, valued at $10,178,218.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s 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 sale, the senior vice president now directly 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 owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $110.00 price objective on shares of ASGN in a research report on Wednesday, January 3rd. BMO Capital Markets upped their price objective on ASGN to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Truist Financial raised their target price on ASGN from $93.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Bank Of America (Bofa) restated an “underweight” rating and set a $70.00 price objective on shares of ASGN in a research report on Monday, January 8th. Finally, Robert W. Baird increased their target price on shares of ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.20.

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.