ASGN (NYSE:ASGN) Issues Q2 2024 Earnings Guidance

ASGN (NYSE:ASGN) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.280-1.360 for the period, compared to the consensus EPS estimate of 1.360. The company issued revenue guidance of $1.0 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. ASGN also updated its Q2 guidance to $1.28-1.36 EPS.

ASGN Stock Up 1.3 %

ASGN traded up $1.33 during trading on Wednesday, reaching $102.11. 405,917 shares of the stock traded hands, compared to its average volume of 242,618. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 4.00 and a beta of 1.50. ASGN has a fifty-two week low of $63.27 and a fifty-two week high of $106.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.47 and a quick ratio of 2.47. The stock’s 50-day simple moving average is $99.56 and its two-hundred day simple moving average is $93.32.

ASGN (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, February 7th. The business services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. ASGN had a return on equity of 15.52% and a net margin of 4.93%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm earned $1.51 earnings per share. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, equities research analysts expect that ASGN will post 5.79 EPS for the current year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other ASGN news, SVP Jennifer Hankes Painter sold 1,100 shares of the company’s stock in a transaction 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 transaction, the senior vice president now owns 52,716 shares of the company’s stock, valued at approximately $4,935,271.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other 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 transaction, the senior vice president now owns 52,716 shares of the company’s stock, valued at approximately $4,935,271.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction on Friday, February 9th. The shares were 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 directly owns 107,923 shares in the company, valued at approximately $10,178,218.13. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

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.