ASGN (NYSE:ASGN) Updates Q2 Earnings Guidance

ASGN (NYSE:ASGN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.28-1.36 for the period, compared to the consensus EPS estimate of $1.36. The company issued revenue guidance of $1.034.5-1.0545 billion, compared to the consensus revenue estimate of $1.07 billion. ASGN also updated its Q2 2024 guidance to 1.280-1.360 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank Of America (Bofa) restated an underweight rating and issued a $70.00 price objective on shares of ASGN in a report on Monday, January 8th. Canaccord Genuity Group restated a buy rating and issued a $110.00 price target on shares of ASGN in a research note on Wednesday, January 3rd. Jefferies Financial Group lifted their price target on ASGN to $88.00 and gave the stock a hold rating in a report on Wednesday, January 10th. Truist Financial increased their price objective on ASGN from $93.00 to $110.00 and gave the company a buy rating in a report on Tuesday, January 2nd. Finally, BMO Capital Markets boosted their target price on ASGN to $110.00 and gave the stock a hold rating in a research note on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $93.50.

ASGN Stock Performance

ASGN traded up $1.33 during trading on Wednesday, hitting $102.11. 405,917 shares of the stock were exchanged, compared to its average volume of 242,618. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $4.75 billion, a P/E ratio of 22.69, a PEG ratio of 4.00 and a beta of 1.50. The stock has a fifty day moving average price of $99.43 and a two-hundred day moving average price of $93.26. ASGN has a 1-year low of $63.27 and a 1-year high of $106.42.

ASGN (NYSE:ASGN) last issued its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. ASGN had a net margin of 4.93% and a return on equity of 15.52%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $1.51 EPS. ASGN’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, sell-side analysts predict that ASGN will post 5.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Randolph C. Blazer sold 7,746 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $94.31, for a total transaction of $730,525.26. Following the completion of the sale, the president now owns 107,923 shares in the company, valued at $10,178,218.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ASGN news, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $93.62, for a total value of $102,982.00. Following the completion of the transaction, the senior vice president now owns 52,716 shares in the company, valued at $4,935,271.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $94.31, for a total value of $730,525.26. Following the completion of the transaction, the president now owns 107,923 shares of the company’s stock, valued at approximately $10,178,218.13. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

ASGN Company Profile

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.