On Assignment, Inc. (ASGN) Expected to Post Quarterly Sales of $664.08 Million

Equities analysts expect On Assignment, Inc. (NYSE:ASGN) to report sales of $664.08 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for On Assignment’s earnings. The highest sales estimate is $666.37 million and the lowest is $661.88 million. On Assignment posted sales of $620.88 million in the same quarter last year, which suggests a positive year over year growth rate of 7%. The business is expected to issue its next quarterly 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 fiscal year. For the next year, analysts expect that the firm will post sales of $2.79 billion per share, with estimates ranging from $2.74 billion to $2.82 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow On Assignment.

On Assignment (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.08. The firm had revenue of $667.05 million during the quarter, compared to the consensus estimate of $660.90 million. On Assignment had a net margin of 4.45% and a return on equity of 16.87%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS.

A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of On Assignment from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Wednesday. ValuEngine raised shares of On Assignment from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BMO Capital Markets boosted their price objective on shares of On Assignment from $66.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, January 8th. Robert W. Baird reissued a “hold” rating and issued a $59.00 price objective on shares of On Assignment in a report on Friday, October 27th. Finally, BidaskClub raised shares of On Assignment from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 27th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. On Assignment has a consensus rating of “Buy” and a consensus price target of $66.50.

In other news, Director Brian J. Callaghan sold 20,250 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $59.04, for a total transaction of $1,195,560.00. Following the completion of the sale, the director now owns 413,180 shares of the company’s stock, valued at approximately $24,394,147.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey E. Veatch sold 129,066 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $58.61, for a total transaction of $7,564,558.26. Following the sale, the insider now directly owns 364,202 shares of the company’s stock, valued at approximately $21,345,879.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 522,765 shares of company stock valued at $31,020,382. 5.40% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Aurora Investment Counsel bought a new stake in shares of On Assignment during the 4th quarter worth approximately $268,000. Janney Montgomery Scott LLC bought a new stake in shares of On Assignment during the 3rd quarter worth approximately $280,000. Cubist Systematic Strategies LLC bought a new stake in shares of On Assignment during the 3rd quarter worth approximately $419,000. Insight Capital Research & Management Inc. bought a new stake in shares of On Assignment during the 3rd quarter worth approximately $953,000. Finally, Pinebridge Investments L.P. lifted its holdings in shares of On Assignment by 12.5% during the 3rd 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 during the period. 90.15% of the stock is owned by institutional investors.

On Assignment (NYSE ASGN) traded down $0.31 during midday trading on Friday, reaching $66.59. 130,501 shares of the company’s stock were exchanged, compared to its average volume of 213,439. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The company has a market cap of $3,479.80, a P/E ratio of 30.97, a P/E/G ratio of 2.04 and a beta of 2.12. On Assignment has a 52-week low of $43.25 and a 52-week high of $68.29.

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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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