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

ASGN Incorporated (NYSE:ASGN) – Equities research analysts at William Blair cut their Q2 2024 earnings per share (EPS) estimates for ASGN in a note issued to investors on Thursday, April 25th. William Blair analyst M. Nolan now anticipates that the business services provider will earn $1.32 per share for the quarter, down from their previous estimate 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.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.16 earnings per share for the quarter, hitting the consensus estimate of $1.16. ASGN had a net margin of 4.76% and a return on equity of 14.81%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $1.38 EPS. The company’s quarterly revenue was down 7.1% compared to the same quarter last year.

ASGN has been the topic of several other reports. Bank Of America (Bofa) reiterated an “underweight” rating and set a $70.00 price objective on shares of ASGN in a research report on Monday, January 8th. Robert W. Baird lifted their price objective on shares of ASGN from $99.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and set a $110.00 price objective on shares of ASGN in a research report on Wednesday, January 3rd. Jefferies Financial Group boosted their price target on shares of ASGN to $88.00 and gave the company a “hold” rating in a report on Wednesday, January 10th. Finally, BMO Capital Markets lowered their price target on shares of ASGN from $95.00 to $94.00 and set a “market perform” rating on the stock in a report on Friday. Three 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, the stock presently has a consensus rating of “Hold” and an average price target of $93.60.

ASGN Trading Down 1.2 %

NYSE ASGN opened at $97.51 on Friday. ASGN has a twelve month low of $63.27 and a twelve month high of $106.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.47 and a current ratio of 2.47. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 4.10 and a beta of 1.50. The firm’s 50 day moving average price is $99.60 and its two-hundred day moving average price is $93.47.

Institutional Investors Weigh In On ASGN

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in ASGN by 38.5% in the third quarter. EverSource Wealth Advisors LLC now owns 615 shares of the business services provider’s stock worth $50,000 after purchasing an additional 171 shares in the last quarter. Meadow Creek Wealth Advisors LLC acquired a new position in ASGN during the 1st quarter worth $512,000. Argent Capital Management LLC lifted its position in ASGN by 19.5% during 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 lifted its position in ASGN by 8.1% during 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% 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 during the last quarter. 95.36% of the stock is currently owned by institutional investors.

Insider Activity

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

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.