Wall Street analysts predict that On Assignment, Inc. (NYSE:ASGN) will post sales of $678.40 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for On Assignment’s earnings, with the highest sales estimate coming in at $681.62 million and the lowest estimate coming in at $676.00 million. On Assignment posted sales of $626.53 million in the same quarter last year, which indicates a positive year over year growth rate of 8.3%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, April 25th.
According to Zacks, analysts expect that On Assignment will report full-year sales of $678.40 million for the current financial year, with estimates ranging from $2.79 billion to $2.83 billion. For the next financial year, analysts expect that the company will report sales of $2.98 billion per share, with estimates ranging from $2.97 billion to $3.00 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow On Assignment.
On Assignment (NYSE:ASGN) last released its earnings results on Wednesday, February 14th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.68. On Assignment had a return on equity of 17.42% and a net margin of 6.00%. The company had revenue of $679.04 million for the quarter, compared to analyst estimates of $671.35 million. During the same period in the prior year, the firm posted $0.64 EPS. On Assignment’s quarterly revenue was up 9.4% on a year-over-year basis.
ASGN has been the subject of several recent analyst reports. SunTrust Banks upped their price objective on On Assignment to $88.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Zacks Investment Research upgraded On Assignment from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, January 10th. BMO Capital Markets upped their price objective on On Assignment from $66.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, January 8th. ValuEngine upgraded On Assignment from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Wells Fargo set a $92.00 price objective on On Assignment and gave the stock a “buy” rating in a research report on Monday, April 2nd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. On Assignment has an average rating of “Buy” and an average price target of $79.86.
In other On Assignment news, insider Randolph C. Blazer sold 10,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $78.73, for a total value of $787,300.00. Following the completion of the transaction, the insider now directly owns 55,837 shares in the company, valued at $4,396,047.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marty R. Kittrell sold 2,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $76.24, for a total value of $152,480.00. Following the completion of the transaction, the director now owns 4,946 shares of the company’s stock, valued at $377,083.04. The disclosure for this sale can be found here. Insiders sold 121,265 shares of company stock valued at $9,440,062 over the last quarter. Corporate insiders own 5.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in On Assignment by 0.5% in the fourth quarter. BlackRock Inc. now owns 6,098,116 shares of the business services provider’s stock valued at $391,925,000 after purchasing an additional 30,089 shares during the last quarter. Bamco Inc. NY raised its position 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 purchasing an additional 100,000 shares during the last quarter. Boston Partners raised its position in On Assignment by 9.8% in the fourth quarter. Boston Partners now owns 923,765 shares of the business services provider’s stock valued at $59,370,000 after purchasing an additional 82,069 shares during the last quarter. Peregrine Capital Management LLC raised its position in On Assignment by 0.6% in the fourth quarter. Peregrine Capital Management LLC now owns 676,675 shares of the business services provider’s stock valued at $43,490,000 after purchasing an additional 4,339 shares during the last quarter. Finally, KAMES CAPITAL plc raised its position in On Assignment by 57.2% in the fourth quarter. KAMES CAPITAL plc now owns 610,094 shares of the business services provider’s stock valued at $39,205,000 after purchasing an additional 222,039 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.
Shares of ASGN stock opened at $81.00 on Friday. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.58. On Assignment has a twelve month low of $44.66 and a twelve month high of $86.13. The firm has a market cap of $4,365.04, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 2.22 and a beta of 1.89.
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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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