William Blair Weighs in on ASGN Incorporated’s Q2 2024 Earnings (NYSE:ASGN)

ASGN Incorporated (NYSE:ASGNFree Report) – Equities research analysts at William Blair dropped their Q2 2024 earnings per share (EPS) estimates for ASGN in a research note issued on Thursday, February 8th. William Blair analyst M. Nolan now forecasts that the business services provider will post earnings of $1.51 per share for the quarter, down from their previous estimate of $1.58. William Blair has a “Buy” rating on the stock. The consensus estimate for ASGN’s current full-year earnings is $6.02 per share. William Blair also issued estimates for ASGN’s Q3 2024 earnings at $1.65 EPS, Q4 2024 earnings at $1.44 EPS, FY2024 earnings at $5.74 EPS, Q1 2025 earnings at $1.27 EPS, Q2 2025 earnings at $1.72 EPS, Q3 2025 earnings at $1.89 EPS and FY2025 earnings at $6.54 EPS.

ASGN (NYSE:ASGNGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.08. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. ASGN had a return on equity of 15.87% and a net margin of 4.96%. ASGN’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 EPS.

A number of other equities analysts have also weighed in on the stock. Robert W. Baird reaffirmed a “hold” rating and issued a $87.00 target price on shares of ASGN in a research note on Thursday, October 26th. Canaccord Genuity Group began coverage on ASGN in a report on Wednesday, December 6th. They set a “buy” rating and a $110.00 price objective for the company. Wells Fargo & Company upped their price target on ASGN to $112.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Truist Financial raised their price target on shares of ASGN from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $110.00 target price on shares of ASGN in a report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $93.50.

Read Our Latest Report on ASGN

ASGN Stock Up 1.3 %

Shares of ASGN stock opened at $95.61 on Friday. ASGN has a 12-month low of $63.27 and a 12-month high of $98.26. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.54. The firm has a fifty day moving average of $93.27 and a 200-day moving average of $86.03. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 11.57 and a beta of 1.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASGN. Captrust Financial Advisors boosted its position in ASGN by 16.0% during the second quarter. Captrust Financial Advisors now owns 1,974 shares of the business services provider’s stock worth $178,000 after purchasing an additional 273 shares during the period. Argent Capital Management LLC grew its stake in ASGN by 18.4% in the 2nd quarter. Argent Capital Management LLC now owns 4,546 shares of the business services provider’s stock valued at $344,000 after buying an additional 707 shares during the last quarter. Reinhart Partners LLC. raised its holdings in ASGN by 100.0% in the 2nd quarter. Reinhart Partners LLC. now owns 462,982 shares of the business services provider’s stock valued at $35,015,000 after acquiring an additional 231,479 shares during the period. EverSource Wealth Advisors LLC lifted its position in ASGN by 156.6% during the second quarter. EverSource Wealth Advisors LLC now owns 444 shares of the business services provider’s stock worth $34,000 after acquiring an additional 271 shares during the last quarter. Finally, Cim Investment Management Inc. bought a new stake in shares of ASGN during the second quarter worth approximately $206,000. 94.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ASGN

In other news, Director Jonathan S. Holman sold 1,000 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $91.31, for a total transaction of $91,310.00. Following the transaction, the director now directly owns 10,793 shares in the company, valued at approximately $985,508.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.40% of the company’s stock.

About ASGN

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ASGN Incorporated provides information technology services and professional 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.

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Earnings History and Estimates for ASGN (NYSE:ASGN)

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