$911.10 Million in Sales Expected for ASGN Inc (ASGN) This Quarter

Analysts forecast that ASGN Inc (NYSE:ASGN) will post $911.10 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for ASGN’s earnings, with the highest sales estimate coming in at $912.92 million and the lowest estimate coming in at $910.30 million. ASGN posted sales of $679.04 million during the same quarter last year, which suggests a positive year-over-year growth rate of 34.2%. The company is scheduled to report its next earnings results on Wednesday, February 13th.

According to Zacks, analysts expect that ASGN will report full year sales of $3.38 billion for the current year. For the next year, analysts expect that the company will report sales of $3.75 billion, with estimates ranging from $3.70 billion to $3.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow ASGN.

ASGN (NYSE:ASGN) last released its earnings results on Wednesday, October 24th. The business services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.10 by $0.20. ASGN had a return on equity of 20.29% and a net margin of 5.69%. The business had revenue of $906.40 million during the quarter, compared to analysts’ expectations of $892.87 million. During the same quarter last year, the firm posted $0.83 earnings per share. The firm’s revenue was up 35.9% on a year-over-year basis.

Several research firms recently commented on ASGN. Bank of America assumed coverage on ASGN in a research report on Tuesday, October 23rd. They set a “buy” rating and a $84.00 target price for the company. Robert W. Baird lowered their target price on ASGN from $91.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. Zacks Investment Research lowered ASGN from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Wells Fargo & Co lowered their price target on ASGN from $96.00 to $82.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Finally, ValuEngine lowered ASGN from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $80.00.

In related news, Director Edwin A. Sheridan acquired 20,000 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $65.33 per share, with a total value of $1,306,600.00. Following the transaction, the director now owns 21,686 shares of the company’s stock, valued at approximately $1,416,746.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter T. Dameris acquired 15,000 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were bought at an average cost of $65.92 per share, with a total value of $988,800.00. Following the transaction, the chief executive officer now directly owns 118,580 shares in the company, valued at approximately $7,816,793.60. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 54,950 shares of company stock valued at $3,645,425. Insiders own 3.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in ASGN during the 2nd quarter worth $420,000. Amalgamated Bank acquired a new position in ASGN during the second quarter worth about $645,000. Texas Permanent School Fund acquired a new position in shares of ASGN in the second quarter valued at approximately $2,481,000. Janney Montgomery Scott LLC acquired a new position in shares of ASGN in the second quarter valued at approximately $991,000. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of ASGN in the second quarter valued at approximately $5,350,000. Institutional investors own 91.81% of the company’s stock.

Shares of ASGN traded down $5.10 during mid-day trading on Friday, hitting $64.42. The stock had a trading volume of 372,239 shares, compared to its average volume of 376,104. The firm has a market cap of $3.63 billion, a PE ratio of 21.12, a PEG ratio of 1.33 and a beta of 2.03. ASGN has a 52 week low of $58.84 and a 52 week high of $94.25. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.22 and a quick ratio of 2.22.

ASGN Company Profile

ASGN Incorporated provides IT and professional services in the technology, creative/digital, engineering, and life sciences fields across commercial and government sectors in the United State and internationally. The company operates through Apex, Oxford, and ECS segments. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.

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