ASGN (NYSE:ASGN) Issues Quarterly Earnings Results, Meets Expectations

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

ASGN Price Performance

ASGN opened at $98.74 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.47 and a current ratio of 2.47. ASGN has a 52-week low of $63.27 and a 52-week high of $106.42. The stock has a market capitalization of $4.59 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 4.10 and a beta of 1.50. The stock’s 50 day moving average price is $99.59 and its 200-day moving average price is $93.36.

Insider Buying and Selling

In related 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 value of $102,982.00. Following the sale, the senior vice president now directly owns 52,716 shares of the company’s stock, valued at $4,935,271.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 sale, the senior vice president now directly owns 52,716 shares of the company’s stock, valued at $4,935,271.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Randolph C. Blazer sold 7,746 shares of the company’s 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 transaction, the president now directly owns 107,923 shares in the company, valued at $10,178,218.13. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Analysts Set New Price Targets

ASGN has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their target price on ASGN to $88.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. BMO Capital Markets lifted their target price on ASGN to $110.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Robert W. Baird lifted their price target on ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and set a $110.00 price target on shares of ASGN in a research report on Wednesday, January 3rd. Finally, Truist Financial lifted their price target on ASGN from $93.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.20.

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.