ASGN (NYSE:ASGN) Issues Q2 Earnings Guidance

ASGN (NYSE:ASGN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $1.28-1.36 for the period, compared to the consensus EPS estimate of $1.36. The company issued revenue guidance of $1.034.5-1.0545 billion, compared to the consensus revenue estimate of $1.07 billion.

ASGN Price Performance

Shares of ASGN stock traded up $1.33 during trading hours on Wednesday, hitting $102.11. The company had a trading volume of 405,841 shares, compared to its average volume of 242,617. ASGN has a 12 month low of $63.27 and a 12 month high of $106.42. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 4.00 and a beta of 1.50. The firm’s fifty day moving average is $99.43 and its 200 day moving average is $93.26. 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 (NYSE:ASGN) last released its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.08. ASGN had a return on equity of 15.52% and a net margin of 4.93%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company posted $1.51 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts predict that ASGN will post 5.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ASGN shares. Jefferies Financial Group boosted their target price on ASGN to $88.00 and gave the stock a hold rating in a report on Wednesday, January 10th. Truist Financial boosted their target price on ASGN from $93.00 to $110.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. Bank Of America (Bofa) reissued an underweight rating and issued a $70.00 target price on shares of ASGN in a report on Monday, January 8th. BMO Capital Markets boosted their target price on ASGN to $110.00 and gave the stock a hold rating in a report on Wednesday, January 10th. Finally, Canaccord Genuity Group reaffirmed a buy rating and set a $110.00 price objective on shares of ASGN in a report on Wednesday, January 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, ASGN currently has an average rating of Hold and an average target price of $93.50.

Insiders Place Their Bets

In other ASGN news, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $94.31, for a total transaction of $730,525.26. Following the completion of 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 filing with the SEC, which is available through the SEC website. In other ASGN news, President Randolph C. Blazer sold 7,746 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $94.31, for a total transaction of $730,525.26. Following the completion of 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 filing with the SEC, which is available through the SEC website. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $4,935,271.92. The disclosure for this sale can be found here. Corporate insiders own 3.40% 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.