ASGN (NYSE:ASGN) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

ASGN (NYSE:ASGN) posted its quarterly earnings data on Wednesday. The business services provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.03, Briefing.com reports. ASGN had a return on equity of 14.90% and a net margin of 4.76%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business earned $1.59 earnings per share. ASGN’s revenue for the quarter was down 8.5% compared to the same quarter last year. ASGN updated its Q3 guidance to $1.31-$1.39 EPS and its Q3 2024 guidance to 1.310-1.390 EPS.

ASGN Price Performance

Shares of NYSE ASGN traded down $9.06 during midday trading on Thursday, reaching $92.77. 843,886 shares of the company traded hands, compared to its average volume of 300,108. The firm has a market cap of $4.26 billion, a PE ratio of 23.57, a PEG ratio of 8.58 and a beta of 1.40. The stock’s 50-day simple moving average is $93.14 and its 200-day simple moving average is $95.95. ASGN has a 12 month low of $75.85 and a 12 month high of $106.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.51 and a current ratio of 2.51.

Insider Buying and Selling at ASGN

In other news, Director Marty R. Kittrell sold 1,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $98.61, for a total value of $98,610.00. Following the completion of the sale, the director now directly owns 4,316 shares in the company, valued at $425,600.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Marty R. Kittrell sold 1,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $98.61, for a total value of $98,610.00. Following the completion of the sale, the director now directly owns 4,316 shares in the company, valued at $425,600.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Randolph C. Blazer sold 6,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $98.00, for a total value of $588,000.00. Following the completion of the sale, the president now owns 101,923 shares of the company’s stock, valued at $9,988,454. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,000 shares of company stock valued at $783,650. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ASGN. Robert W. Baird increased their price objective on ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of ASGN in a research report on Thursday. Finally, BMO Capital Markets reduced their target price on ASGN from $95.00 to $94.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $97.22.

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.