Q2 2024 Earnings Forecast for ASGN Incorporated (NYSE:ASGN) Issued By William Blair

ASGN Incorporated (NYSE:ASGN) – Analysts at William Blair cut their Q2 2024 earnings per share (EPS) estimates for shares of ASGN in a research note issued on Thursday, April 25th. William Blair analyst M. Nolan now expects that the business services provider will post earnings of $1.32 per share for the quarter, down from their prior forecast of $1.51. The consensus estimate for ASGN’s current full-year earnings is $5.79 per share. William Blair also issued estimates for ASGN’s Q4 2024 earnings at $1.27 EPS, Q1 2025 earnings at $1.16 EPS, Q2 2025 earnings at $1.52 EPS, Q3 2025 earnings at $1.69 EPS and Q4 2025 earnings at $1.51 EPS.

Other analysts have also recently issued research reports about the company. BMO Capital Markets cut their target price on ASGN from $95.00 to $94.00 and set a “market perform” rating on the stock in a research report on Friday. Bank Of America (Bofa) reiterated an “underweight” rating and set a $70.00 target price on shares of ASGN in a research report on Monday, January 8th. Jefferies Financial Group lifted their target price on ASGN to $88.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Truist Financial lifted their target price on ASGN from $93.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $110.00 price target on shares of ASGN in a research report on Wednesday, January 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $93.60.

ASGN Stock Down 1.2 %

ASGN opened at $97.51 on Friday. The business’s 50-day simple moving average is $99.60 and its 200-day simple moving average is $93.47. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.47 and a current ratio of 2.47. ASGN has a one year low of $63.27 and a one year high of $106.42. The stock has a market capitalization of $4.53 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 4.10 and a beta of 1.50.

ASGN (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.16. ASGN had a return on equity of 14.81% 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 business earned $1.38 EPS. ASGN’s revenue for the quarter was down 7.1% on a year-over-year basis.

Insiders Place Their Bets

In other ASGN news, President Randolph C. Blazer sold 7,746 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $94.31, for a total transaction of $730,525.26. Following the transaction, the president now owns 107,923 shares in the company, valued at approximately $10,178,218.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ASGN news, President Randolph C. Blazer sold 7,746 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $94.31, for a total transaction of $730,525.26. Following the transaction, the president now owns 107,923 shares in the company, valued at approximately $10,178,218.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $93.62, for a total value of $102,982.00. Following the transaction, the senior vice president now owns 52,716 shares in the company, valued at approximately $4,935,271.92. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ASGN

Several institutional investors have recently modified their holdings of ASGN. Reinhart Partners LLC. boosted its stake in shares of ASGN by 10.7% during the 4th quarter. Reinhart Partners LLC. now owns 543,369 shares of the business services provider’s stock worth $52,256,000 after acquiring an additional 52,516 shares in the last quarter. Meadow Creek Wealth Advisors LLC purchased a new stake in shares of ASGN during the 1st quarter worth approximately $512,000. Kennedy Capital Management LLC boosted its stake in shares of ASGN by 3.6% during the 3rd quarter. Kennedy Capital Management LLC now owns 110,247 shares of the business services provider’s stock worth $9,005,000 after acquiring an additional 3,787 shares in the last quarter. SG Americas Securities LLC lifted its stake in ASGN by 8.1% in the 3rd quarter. SG Americas Securities LLC now owns 15,891 shares of the business services provider’s stock valued at $1,298,000 after buying an additional 1,193 shares in the last quarter. Finally, Argent Capital Management LLC lifted its stake in ASGN by 19.5% in the 3rd quarter. Argent Capital Management LLC now owns 5,433 shares of the business services provider’s stock valued at $444,000 after buying an additional 887 shares in the last quarter. Hedge funds and other institutional investors own 95.36% 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.