ASGN (NYSE:ASGN) Issues Quarterly Earnings Results

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

ASGN Stock Performance

ASGN traded down $0.36 on Thursday, hitting $92.68. The company’s stock had a trading volume of 330,633 shares, compared to its average volume of 291,885. The company’s 50 day simple moving average is $93.67 and its 200-day simple moving average is $93.96. The firm has a market cap of $4.25 billion, a P/E ratio of 21.55 and a beta of 1.40. ASGN has a 12 month low of $77.10 and a 12 month high of $106.42. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.57.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, September 9th. Canaccord Genuity Group reissued a “buy” rating and set a $115.00 target price on shares of ASGN in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $97.22.

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.