Q3 2024 EPS Estimates for ASGN Incorporated Cut by Analyst (NYSE:ASGN)

ASGN Incorporated (NYSE:ASGN) – Equities research analysts at William Blair cut their Q3 2024 earnings per share estimates for shares of ASGN in a report released on Thursday, April 25th. William Blair analyst M. Nolan now anticipates that the business services provider will earn $1.38 per share for the quarter, down from their prior estimate of $1.65. The consensus estimate for ASGN’s current full-year earnings is $5.28 per share. William Blair also issued estimates for ASGN’s FY2024 earnings at $5.13 EPS and FY2025 earnings at $5.87 EPS.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, April 24th. The business services provider reported $1.16 EPS for the quarter, hitting analysts’ consensus estimates of $1.16. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. ASGN had a return on equity of 14.90% and a net margin of 4.76%. ASGN’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share.

A number of other brokerages have also recently issued reports on ASGN. Truist Financial boosted their target price on shares of ASGN from $93.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. BMO Capital Markets reduced their price target on shares of ASGN from $95.00 to $94.00 and set a “market perform” rating for the company in a research report on Friday. Robert W. Baird lifted their price objective on ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Bank Of America (Bofa) reaffirmed an “underweight” rating and issued a $70.00 price target on shares of ASGN in a report on Monday, January 8th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $110.00 target price on shares of ASGN in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, ASGN currently has an average rating of “Hold” and an average price target of $96.67.

ASGN Stock Up 1.2 %

ASGN stock opened at $98.68 on Monday. The firm has a 50 day moving average price of $99.64 and a 200-day moving average price of $93.72. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.56. ASGN has a twelve month low of $63.27 and a twelve month high of $106.42. The company has a market capitalization of $4.59 billion, a P/E ratio of 22.84, a P/E/G ratio of 7.08 and a beta of 1.50.

Insider Buying and Selling

In other ASGN news, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were 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 $4,935,271.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ASGN news, President Randolph C. Blazer sold 7,746 shares of the firm’s stock in a transaction 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 completion of the transaction, the president now owns 107,923 shares of the company’s stock, valued at $10,178,218.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $93.62, for a total transaction of $102,982.00. Following the sale, 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 owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in ASGN by 38.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 615 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 171 shares in the last quarter. Meadow Creek Wealth Advisors LLC bought a new stake in shares of ASGN during the first quarter valued at approximately $512,000. Argent Capital Management LLC raised its holdings 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 worth $444,000 after acquiring an additional 887 shares during the last quarter. SG Americas Securities LLC raised its holdings 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 worth $1,298,000 after acquiring an additional 1,193 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its position in ASGN by 3.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 110,247 shares of the business services provider’s stock valued at $9,005,000 after acquiring an additional 3,787 shares in the last quarter. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.