Wall Street analysts expect that On Assignment, Inc. (NYSE:ASGN) will report earnings per share of $1.05 for the current quarter, Zacks reports. Three analysts have provided estimates for On Assignment’s earnings. The lowest EPS estimate is $1.04 and the highest is $1.05. On Assignment posted earnings of $0.78 per share in the same quarter last year, which indicates a positive year over year growth rate of 34.6%. The business is expected to issue its next earnings report on Wednesday, July 25th.
According to Zacks, analysts expect that On Assignment will report full year earnings of $4.09 per share for the current year, with EPS estimates ranging from $4.06 to $4.10. For the next year, analysts forecast that the business will report earnings of $4.63 per share, with EPS estimates ranging from $4.57 to $4.68. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow On Assignment.
On Assignment (NYSE:ASGN) last announced its earnings results on Wednesday, April 25th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.08. The company had revenue of $685.20 million for the quarter, compared to analyst estimates of $677.66 million. On Assignment had a return on equity of 17.99% and a net margin of 6.12%. On Assignment’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 earnings per share.
A number of equities research analysts have recently issued reports on ASGN shares. SunTrust Banks boosted their target price on On Assignment to $88.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Zacks Investment Research raised On Assignment from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Wednesday, April 25th. Deutsche Bank boosted their target price on On Assignment from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. ValuEngine raised On Assignment from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Co set a $92.00 target price on On Assignment and gave the stock a “buy” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.57.
Shares of On Assignment traded down $1.46, reaching $78.28, on Friday, Marketbeat.com reports. 379,401 shares of the company were exchanged, compared to its average volume of 262,949. The firm has a market capitalization of $4.09 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.92 and a beta of 1.91. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.55. On Assignment has a fifty-two week low of $44.66 and a fifty-two week high of $86.13.
In other On Assignment news, CEO Peter T. Dameris sold 18,750 shares of the company’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $82.44, for a total value of $1,545,750.00. Following the transaction, the chief executive officer now directly owns 151,621 shares of the company’s stock, valued at approximately $12,499,635.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arshad Matin sold 2,000 shares of the company’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $84.62, for a total value of $169,240.00. The disclosure for this sale can be found here. Insiders have sold 139,850 shares of company stock worth $10,991,187 over the last three months. 3.90% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of ASGN. We Are One Seven LLC acquired a new position in On Assignment in the 4th quarter worth about $163,000. Public Employees Retirement Association of Colorado acquired a new position in On Assignment in the 4th quarter worth about $192,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in On Assignment by 38.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,099 shares of the business services provider’s stock worth $199,000 after purchasing an additional 857 shares during the last quarter. Everence Capital Management Inc. acquired a new position in On Assignment in the 4th quarter worth about $217,000. Finally, M&T Bank Corp bought a new stake in shares of On Assignment during the 4th quarter worth about $218,000. 82.22% of the stock is currently owned by institutional investors.
On Assignment Company Profile
ASGN Incorporated provides IT and professional services in the technology, digital, creative, healthcare technology, engineering, life sciences, and government sectors in the United States, Europe, and Canada. The company's Apex segment offers technical, digital, and creative and scientific professionals for contract, contract-to-hire, and permanent placement positions to Fortune 1000 and mid-market clients; IT staffing and consulting services comprising IT infrastructure, application development, project management, and healthcare IT professionals; and creative, marketing, advertising, and digital professionals.
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