Equities analysts expect that On Assignment, Inc. (NYSE:ASGN) will post sales of $664.08 million for the current quarter, according to Zacks. Five analysts have issued estimates for On Assignment’s earnings. The highest sales estimate is $666.37 million and the lowest is $661.88 million. On Assignment posted sales of $620.88 million in the same quarter last year, which would indicate a positive year over year growth rate of 7%. The firm is expected to report its next earnings report on Tuesday, February 13th.
According to Zacks, analysts expect that On Assignment will report full year sales of $664.08 million for the current year. For the next fiscal year, analysts anticipate that the firm will post sales of $2.80 billion per share, with estimates ranging from $2.74 billion to $2.86 billion. Zacks’ sales averages are an average based on a survey of analysts that cover On Assignment.
On Assignment (NYSE:ASGN) last issued its quarterly earnings data on Wednesday, October 25th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.08. On Assignment had a return on equity of 16.87% and a net margin of 4.45%. The business had revenue of $667.05 million for the quarter, compared to the consensus estimate of $660.90 million. During the same period in the prior year, the business posted $0.74 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year.
A number of brokerages have issued reports on ASGN. Zacks Investment Research downgraded On Assignment from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. BMO Capital Markets upped their price objective on On Assignment from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Robert W. Baird restated a “hold” rating and set a $59.00 price objective on shares of On Assignment in a research report on Friday, October 27th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of On Assignment in a research note on Friday, October 20th. Finally, Deutsche Bank AG upped their target price on On Assignment from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $60.17.
Shares of On Assignment (NYSE:ASGN) opened at $63.70 on Wednesday. On Assignment has a 52-week low of $40.52 and a 52-week high of $63.71. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.57 and a current ratio of 2.57. The stock has a market capitalization of $3,271.74, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 2.12 and a beta of 2.12.
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In related news, SVP Jennifer Hankes Painter sold 3,500 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $63.06, for a total value of $220,710.00. Following the transaction, the senior vice president now owns 10,667 shares of the company’s stock, valued at $672,661.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Theodore S. Hanson sold 11,325 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $61.72, for a total value of $698,979.00. Following the completion of the transaction, the insider now directly owns 253,639 shares in the company, valued at approximately $15,654,599.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 504,035 shares of company stock worth $29,809,517. Insiders own 5.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Bamco Inc. NY grew its stake in On Assignment by 5.5% in the third quarter. Bamco Inc. NY now owns 1,910,100 shares of the business services provider’s stock worth $102,534,000 after purchasing an additional 100,000 shares in the last quarter. Stifel Financial Corp grew its stake in On Assignment by 6.2% in the third quarter. Stifel Financial Corp now owns 287,428 shares of the business services provider’s stock worth $15,451,000 after purchasing an additional 16,813 shares in the last quarter. California Public Employees Retirement System grew its stake in On Assignment by 3.7% in the third quarter. California Public Employees Retirement System now owns 95,774 shares of the business services provider’s stock worth $5,141,000 after purchasing an additional 3,374 shares in the last quarter. Pinebridge Investments L.P. grew its stake in On Assignment by 12.5% in the third quarter. Pinebridge Investments L.P. now owns 25,944 shares of the business services provider’s stock worth $1,393,000 after purchasing an additional 2,879 shares in the last quarter. Finally, Insight Capital Research & Management Inc. bought a new position in On Assignment in the third quarter worth approximately $953,000. 88.35% of the stock is currently owned by institutional investors.
About On Assignment
On Assignment, Inc is a global provider of in-demand, skilled professionals in the technology, life sciences and creative sectors. The Company matches resumes with job descriptions to match people they know into positions they understand for temporary, contract-to-hire, and direct hire assignments. It operates through two segments.
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