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 Performance

Shares of NYSE ASGN traded down $1.21 during midday trading on Friday, hitting $97.51. 414,790 shares of the company’s stock were exchanged, compared to its average volume of 274,105. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.56. ASGN has a 12 month low of $63.27 and a 12 month high of $106.42. The company’s 50 day moving average price is $99.60 and its 200 day moving average price is $93.47. The firm has a market capitalization of $4.53 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 4.06 and a beta of 1.50.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, April 24th. The business services provider reported $1.16 EPS for the quarter, hitting the consensus estimate of $1.16. ASGN had a return on equity of 14.90% and a net margin of 4.76%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $1.38 EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, analysts predict that ASGN will post 5.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ASGN. Jefferies Financial Group lifted their price objective on ASGN to $88.00 and gave the company a hold rating in a report on Wednesday, January 10th. Truist Financial lifted their price objective on ASGN from $93.00 to $110.00 and gave the company a buy rating in a report on Tuesday, January 2nd. Canaccord Genuity Group reaffirmed a buy rating and issued a $110.00 price objective on shares of ASGN in a report on Wednesday, January 3rd. BMO Capital Markets dropped their price objective on ASGN from $95.00 to $94.00 and set a market perform rating for the company in a report on Friday. Finally, Bank Of America (Bofa) reaffirmed an underweight rating and issued a $70.00 price objective on shares of ASGN in a report on Monday, January 8th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, ASGN currently has a consensus rating of Hold and an average target price of $93.60.

Insiders Place Their Bets

In other ASGN news, SVP Jennifer Hankes Painter sold 1,100 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $93.62, for a total value of $102,982.00. Following the completion of the transaction, the senior vice president now owns 52,716 shares of the company’s stock, valued at approximately $4,935,271.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ASGN news, SVP Jennifer Hankes Painter sold 1,100 shares of the company’s stock in a transaction dated 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 owns 52,716 shares in the company, valued at approximately $4,935,271.92. The transaction 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 company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $94.31, for a total value of $730,525.26. Following the sale, the president now owns 107,923 shares in the company, valued at approximately $10,178,218.13. The disclosure for this sale can be found here. 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.