ASGN (NYSE:ASGN) Releases Quarterly Earnings Results, Meets Estimates

ASGN (NYSE:ASGN) released its earnings results on Wednesday. The business services provider reported $1.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.16, Briefing.com reports. ASGN had a net margin of 4.76% and a return on equity of 14.81%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company earned $1.38 earnings per share. The company’s quarterly revenue was down 7.1% on a year-over-year basis. ASGN updated its Q2 guidance to $1.28-1.36 EPS and its Q2 2024 guidance to 1.280-1.360 EPS.

ASGN Stock Performance

Shares of ASGN stock traded down $0.46 on Friday, hitting $98.26. 151,833 shares of the stock traded hands, compared to its average volume of 245,205. The company has a market capitalization of $4.57 billion, a PE ratio of 22.86, a PEG ratio of 4.10 and a beta of 1.50. The company’s fifty day moving average is $99.59 and its 200 day moving average is $93.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 2.47. ASGN has a 1-year low of $63.27 and a 1-year high of $106.42.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on ASGN to $88.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $110.00 price objective on shares of ASGN in a research note on Wednesday, January 3rd. Robert W. Baird increased their price objective on shares of ASGN from $99.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial lifted their target price on shares of 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 upped their price target on shares of ASGN to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $95.20.

Insider Buying and Selling at ASGN

In other news, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $93.62, for a total transaction of $102,982.00. Following the sale, the senior vice president now directly owns 52,716 shares in the company, valued at approximately $4,935,271.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction that occurred 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 directly owns 52,716 shares of the company’s stock, valued at approximately $4,935,271.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Randolph C. Blazer sold 7,746 shares of the company’s stock in a transaction dated 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 directly 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 owned by insiders.

About ASGN

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.