ASGN (NYSE:ASGN) Issues Quarterly Earnings Results

ASGN (NYSE:ASGN) announced its earnings results on Wednesday. The business services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.08, Briefing.com reports. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. ASGN had a net margin of 4.56% and a return on equity of 14.30%. ASGN’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 earnings per share. ASGN updated its Q4 guidance to $1.18-1.24 EPS and its Q4 2024 guidance to 1.180-1.240 EPS.

ASGN Trading Down 1.2 %

Shares of ASGN stock traded down $1.12 on Friday, hitting $92.75. The stock had a trading volume of 246,996 shares, compared to its average volume of 293,437. The stock has a 50 day moving average of $93.74 and a 200 day moving average of $93.96. ASGN has a twelve month low of $77.37 and a twelve month high of $106.42. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.34 and a current ratio of 2.34. The firm has a market capitalization of $4.26 billion, a P/E ratio of 21.65 and a beta of 1.40.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Jefferies Financial Group dropped their price target on ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, September 9th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of ASGN in a research note on Thursday. Finally, BMO Capital Markets boosted their price target on ASGN from $94.00 to $96.00 and gave the company a “market perform” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $97.44.

Insider Activity

In other news, President Randolph C. Blazer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $95.03, for a total value of $950,300.00. Following the completion of the transaction, the president now owns 85,923 shares of the company’s stock, valued at $8,165,262.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Arshad Matin sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $92.51, for a total value of $185,020.00. Following the sale, the director now directly owns 11,645 shares in the company, valued at $1,077,278.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Randolph C. Blazer sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $95.03, for a total value of $950,300.00. Following the completion of the sale, the president now owns 85,923 shares in the company, valued at $8,165,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,563 shares of company stock valued at $1,279,418 over the last quarter. 3.20% of the stock is owned by company insiders.

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.