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 earnings per share (EPS) guidance of 1.280-1.360 for the period, compared to the consensus 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 Performance

Shares of ASGN stock traded up $1.33 on Wednesday, reaching $102.11. The stock had a trading volume of 405,917 shares, compared to its average volume of 242,618. The stock has a market cap of $4.75 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 4.00 and a beta of 1.50. ASGN has a 1 year low of $63.27 and a 1 year high of $106.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.47 and a current ratio of 2.47. The company has a 50 day simple moving average of $99.43 and a 200 day simple moving average of $93.26.

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

Analyst Ratings Changes

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

Insider Transactions at ASGN

In other news, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction dated Friday, February 9th. The shares were 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 of the company’s stock, valued at approximately $4,935,271.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Jennifer Hankes Painter sold 1,100 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $93.62, for a total value of $102,982.00. Following 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 available at this link. Also, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction dated Friday, February 9th. The shares were 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 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. Corporate insiders own 3.40% of the company’s stock.

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.