ASGN (NYSE:ASGN) Updates Q2 2024 Earnings Guidance

ASGN (NYSE:ASGN) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.280-1.360 for the period, compared to the consensus earnings per share estimate of 1.360. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. ASGN also updated its Q2 guidance to $1.28-1.36 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BMO Capital Markets cut their price target on ASGN from $95.00 to $94.00 and set a market perform rating for the company in a report on Friday. Jefferies Financial Group increased their price objective on ASGN to $88.00 and gave the stock a hold rating in a research report on Wednesday, January 10th. Robert W. Baird raised their price target on ASGN from $99.00 to $104.00 and gave the company a neutral rating in a research report on Thursday. Canaccord Genuity Group reaffirmed a buy rating and set a $110.00 price objective on shares of ASGN in a research note on Wednesday, January 3rd. Finally, Truist Financial raised their target price on ASGN from $93.00 to $110.00 and gave the stock a buy rating in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $93.60.

ASGN Stock Down 1.2 %

ASGN stock traded down $1.21 during trading hours on Friday, hitting $97.51. 414,271 shares of the stock traded hands, compared to its average volume of 247,335. The firm’s 50-day moving average price is $99.59 and its two-hundred day moving average price is $93.36. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.55. The company has a market cap of $4.53 billion, a PE ratio of 22.75, a PEG ratio of 4.10 and a beta of 1.50. ASGN has a one year low of $63.27 and a one year high of $106.42.

ASGN (NYSE:ASGN) last released its earnings results on Wednesday, April 24th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.16. ASGN had a net margin of 4.76% and a return on equity of 14.81%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business earned $1.38 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis. On average, research analysts forecast that ASGN will post 5.79 EPS for the current year.

Insider Activity

In related news, President Randolph C. Blazer sold 7,746 shares of the business’s stock in a transaction that occurred 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 transaction, the president now directly owns 107,923 shares in the company, valued at approximately $10,178,218.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ASGN news, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $93.62, for a total transaction of $102,982.00. Following the completion of the sale, the senior vice president now directly owns 52,716 shares in the company, valued at approximately $4,935,271.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Randolph C. Blazer sold 7,746 shares of the business’s stock in a transaction on Friday, February 9th. The shares were 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 of the company’s stock, valued at $10,178,218.13. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

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.