ASGN (NYSE:ASGN) Releases Q4 Earnings Guidance

ASGN (NYSE:ASGN) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.18-1.24 for the period, compared to the consensus estimate of $1.25. The company issued revenue guidance of $990 million -$1.01 billion, compared to the consensus revenue estimate of $1.01 billion. ASGN also updated its Q4 2024 guidance to 1.180-1.240 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $115.00 price target on shares of ASGN in a research note on Thursday, July 25th. Jefferies Financial Group decreased their target price on ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $97.22.

ASGN Price Performance

NYSE ASGN traded up $0.38 during trading on Wednesday, reaching $93.04. 442,668 shares of the company traded hands, compared to its average volume of 291,696. ASGN has a 1-year low of $76.70 and a 1-year 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 stock’s 50 day moving average price is $93.57 and its two-hundred day moving average price is $93.97. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 21.45 and a beta of 1.40.

ASGN (NYSE:ASGN) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.03. ASGN had a net margin of 4.56% and a return on equity of 14.30%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm earned $1.59 EPS. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, analysts anticipate that ASGN will post 5.14 EPS for the current year.

Insiders Place Their Bets

In other ASGN news, Director Jonathan S. Holman sold 503 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $90.45, for a total transaction of $45,496.35. Following the transaction, the director now owns 10,821 shares of the company’s stock, valued at approximately $978,759.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Arshad Matin sold 2,000 shares of ASGN stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $92.51, for a total transaction of $185,020.00. Following the completion of the sale, the director now owns 11,645 shares in the company, valued at $1,077,278.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan S. Holman sold 503 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total transaction of $45,496.35. Following the completion of the transaction, the director now owns 10,821 shares in the company, valued at $978,759.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.20% 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.