Equities research analysts expect On Assignment, Inc. (NYSE:ASGN) to post sales of $664.08 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for On Assignment’s earnings, with the lowest sales estimate coming in at $661.88 million and the highest estimate coming in at $666.37 million. On Assignment reported sales of $620.88 million in the same quarter last year, which indicates a positive year over year growth rate of 7%. The business is scheduled to report its next earnings report on Tuesday, February 13th.
According to Zacks, analysts expect that On Assignment will report full-year sales of $664.08 million for the current financial year. For the next fiscal year, analysts anticipate that the firm will report sales of $2.79 billion per share, with estimates ranging from $2.74 billion to $2.82 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover On Assignment.
On Assignment (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.75 by $0.08. The firm had revenue of $667.05 million for the quarter, compared to analyst estimates of $660.90 million. On Assignment had a return on equity of 16.87% and a net margin of 4.45%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share.
ASGN has been the topic of several research reports. SunTrust Banks restated a “buy” rating on shares of On Assignment in a research note on Friday, December 8th. Zacks Investment Research lowered On Assignment from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Royal Bank of Canada raised their price target on On Assignment from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Robert W. Baird restated a “hold” rating and set a $53.00 price target on shares of On Assignment in a research note on Friday, October 6th. Finally, BMO Capital Markets raised their price target on On Assignment from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $66.50.
Shares of On Assignment (NYSE ASGN) traded down $0.31 during trading on Friday, hitting $66.59. The stock had a trading volume of 130,501 shares, compared to its average volume of 213,439. The stock has a market capitalization of $3,479.80, a price-to-earnings ratio of 30.97, a P/E/G ratio of 2.04 and a beta of 2.12. 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 1 year low of $43.25 and a 1 year high of $68.29.
In other On Assignment news, Director Brian J. Callaghan sold 20,250 shares of On Assignment stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $64.00, for a total value of $1,296,000.00. Following the transaction, the director now owns 392,930 shares in the company, valued at $25,147,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey E. Veatch sold 48,480 shares of On Assignment stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $56.23, for a total value of $2,726,030.40. Following the completion of the transaction, the insider now owns 392,938 shares in the company, valued at approximately $22,094,903.74. The disclosure for this sale can be found here. Insiders sold 522,765 shares of company stock worth $31,020,382 in the last quarter. 5.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Leith Wheeler Investment Counsel Ltd. boosted its holdings in On Assignment by 5.5% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 45,933 shares of the business services provider’s stock worth $2,952,000 after acquiring an additional 2,380 shares in the last quarter. Pinebridge Investments L.P. boosted 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 worth $1,393,000 after acquiring an additional 2,879 shares in the last quarter. California Public Employees Retirement System boosted 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 worth $5,141,000 after acquiring an additional 3,374 shares in the last quarter. Aurora Investment Counsel acquired a new stake in On Assignment in the fourth quarter worth about $268,000. Finally, Janney Montgomery Scott LLC acquired a new stake in On Assignment in the third quarter worth about $280,000. 90.15% of the stock is owned by institutional investors and hedge funds.
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About On Assignment
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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