Analysts expect On Assignment, Inc. (NYSE:ASGN) to post $664.08 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for On Assignment’s earnings. The highest sales estimate is $666.37 million and the lowest is $661.88 million. On Assignment reported sales of $620.88 million in the same quarter last year, which would suggest a positive year over year growth rate of 7%. The company is expected to announce its next quarterly earnings results on Tuesday, February 13th.
According to Zacks, analysts expect that On Assignment will report full-year sales of $664.08 million for the current year. For the next financial year, analysts anticipate that the business will post sales of $2.80 billion per share, with estimates ranging from $2.74 billion to $2.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research 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, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.08. On Assignment had a net margin of 4.45% and a return on equity of 16.87%. The business had revenue of $667.05 million for the quarter, compared to the consensus estimate of $660.90 million. During the same period in the prior year, the company posted $0.74 earnings per share. On Assignment’s revenue was up 6.0% compared to the same quarter last year.
Several equities research analysts recently weighed in on the stock. SunTrust Banks reaffirmed a “buy” rating on shares of On Assignment in a research report on Friday. BMO Capital Markets upped their price objective on shares of On Assignment from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, November 10th. Zacks Investment Research cut shares of On Assignment from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Robert W. Baird reaffirmed a “hold” rating and set a $59.00 price objective on shares of On Assignment in a research report on Friday, October 27th. Finally, Royal Bank Of Canada upped their price objective on shares of On Assignment from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $62.60.
In other news, Director Brian J. Callaghan sold 20,250 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $64.00, for a total value of $1,296,000.00. Following the completion of the transaction, the director now owns 392,930 shares of the company’s stock, valued at $25,147,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jennifer Hankes Painter sold 3,500 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $63.06, for a total transaction of $220,710.00. Following the completion of the transaction, the senior vice president now directly owns 10,667 shares of the company’s stock, valued at approximately $672,661.02. The disclosure for this sale can be found here. Insiders sold 524,285 shares of company stock valued at $31,105,517 in the last three months. Company insiders own 5.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in shares of On Assignment in the third quarter worth about $280,000. Cubist Systematic Strategies LLC acquired a new position in shares of On Assignment in the third quarter valued at approximately $419,000. Insight Capital Research & Management Inc. acquired a new position in shares of On Assignment in the third quarter valued at approximately $953,000. Pinebridge Investments L.P. increased its stake in shares of 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 period. Finally, California Public Employees Retirement System increased its stake in shares of 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 period. 90.27% of the stock is owned by hedge funds and other institutional investors.
On Assignment (NYSE:ASGN) traded up $1.57 during mid-day trading on Friday, hitting $63.83. 411,364 shares of the company traded hands, compared to its average volume of 208,519. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 2.57. On Assignment has a fifty-two week low of $42.86 and a fifty-two week high of $65.34. The firm has a market capitalization of $3,320.12, a P/E ratio of 22.32, a PEG ratio of 2.15 and a beta of 2.12.
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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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