Equities research analysts expect that On Assignment, Inc. (NYSE:ASGN) will report earnings of $0.76 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for On Assignment’s earnings, with estimates ranging from $0.74 to $0.77. On Assignment posted earnings of $0.64 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 18.8%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 13th.
On average, analysts expect that On Assignment will report full year earnings of $2.97 per share for the current financial year, with EPS estimates ranging from $2.95 to $2.99. For the next fiscal year, analysts anticipate that the business will post earnings of $3.18 per share, with EPS estimates ranging from $3.09 to $3.32. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for On Assignment.
On Assignment (NYSE:ASGN) last released its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.08. On Assignment had a return on equity of 16.87% and a net margin of 4.45%. The company had revenue of $667.05 million for the quarter, compared to analysts’ expectations of $660.90 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year.
A number of research analysts have commented on ASGN shares. BidaskClub cut On Assignment from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research lowered On Assignment from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. ValuEngine raised On Assignment from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $53.00 price objective on shares of On Assignment in a research report on Sunday, September 3rd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $60.17.
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In related news, insider Jeffrey E. Veatch sold 74,894 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $56.53, for a total value of $4,233,757.82. Following the transaction, the insider now owns 392,938 shares of the company’s stock, valued at $22,212,785.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey E. Veatch sold 129,066 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $58.61, for a total value of $7,564,558.26. Following the completion of the transaction, the insider now directly owns 364,202 shares in the company, valued at approximately $21,345,879.22. The disclosure for this sale can be found here. Insiders have sold 500,535 shares of company stock worth $29,588,807 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Bamco Inc. NY increased its holdings in On Assignment by 5.5% in the third quarter. Bamco Inc. NY now owns 1,910,100 shares of the business services provider’s stock valued at $102,534,000 after buying an additional 100,000 shares during the last quarter. Stifel Financial Corp increased its holdings in On Assignment by 6.2% in the third quarter. Stifel Financial Corp now owns 287,428 shares of the business services provider’s stock valued at $15,451,000 after buying an additional 16,813 shares during the last quarter. California Public Employees Retirement System increased its holdings in On Assignment by 3.7% in the third quarter. California Public Employees Retirement System now owns 95,774 shares of the business services provider’s stock valued at $5,141,000 after buying an additional 3,374 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in On Assignment by 12.5% in the third quarter. Pinebridge Investments L.P. now owns 25,944 shares of the business services provider’s stock valued at $1,393,000 after buying an additional 2,879 shares during the last quarter. Finally, Insight Capital Research & Management Inc. purchased a new position in On Assignment in the third quarter valued at $953,000. 88.35% of the stock is currently owned by hedge funds and other institutional investors.
On Assignment (ASGN) opened at $62.58 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.57 and a current ratio of 2.57. On Assignment has a 52 week low of $40.52 and a 52 week high of $63.00. The company has a market capitalization of $3,255.09, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.11 and a beta of 2.12.
On Assignment Company Profile
On Assignment, Inc is a global provider of in-demand, skilled professionals in the technology, life sciences and creative sectors. The Company matches resumes with job descriptions to match people they know into positions they understand for temporary, contract-to-hire, and direct hire assignments. It operates through two segments.
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