Zacks: Brokerages Anticipate ASGN Inc (NYSE:ASGN) Will Announce Earnings of $1.19 Per Share

Wall Street brokerages predict that ASGN Inc (NYSE:ASGN) will announce earnings per share of $1.19 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for ASGN’s earnings, with the highest EPS estimate coming in at $1.21 and the lowest estimate coming in at $1.18. ASGN reported earnings per share of $1.11 during the same quarter last year, which suggests a positive year over year growth rate of 7.2%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, July 24th.

On average, analysts expect that ASGN will report full year earnings of $4.67 per share for the current year, with EPS estimates ranging from $4.54 to $4.80. For the next financial year, analysts forecast that the business will report earnings of $5.07 per share, with EPS estimates ranging from $4.85 to $5.22. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for ASGN.

ASGN (NYSE:ASGN) last released its quarterly earnings data on Wednesday, April 24th. The business services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). ASGN had a net margin of 4.49% and a return on equity of 20.45%. The company had revenue of $923.70 million for the quarter, compared to the consensus estimate of $921.14 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year.

A number of analysts recently issued reports on ASGN shares. Royal Bank of Canada started coverage on Robert Half International in a research note on Tuesday, April 16th. They set a “sector perform” rating on the stock. ValuEngine upgraded YY from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. Finally, Credit Suisse Group set a CHF 88 price objective on Novartis and gave the company a “neutral” rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.13.

Shares of NYSE:ASGN traded up $0.06 during midday trading on Tuesday, reaching $60.37. 226,326 shares of the company traded hands, compared to its average volume of 333,029. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 0.96. ASGN has a 12 month low of $50.33 and a 12 month high of $94.25. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.43 and a beta of 2.05. The business’s fifty day moving average price is $57.44.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its holdings in shares of ASGN by 8.8% in the 1st quarter. Wells Fargo & Company MN now owns 1,781,065 shares of the business services provider’s stock worth $113,080,000 after purchasing an additional 144,609 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in ASGN by 5.6% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,540,655 shares of the business services provider’s stock valued at $97,816,000 after acquiring an additional 81,815 shares during the period. Northern Trust Corp boosted its holdings in ASGN by 19.4% during the 4th quarter. Northern Trust Corp now owns 827,773 shares of the business services provider’s stock valued at $45,114,000 after acquiring an additional 134,556 shares during the period. Norges Bank purchased a new stake in ASGN during the 4th quarter valued at about $35,991,000. Finally, OppenheimerFunds Inc. boosted its holdings in ASGN by 2.5% during the 1st quarter. OppenheimerFunds Inc. now owns 655,539 shares of the business services provider’s stock valued at $41,619,000 after acquiring an additional 15,984 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

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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