Q3 2024 EPS Estimates for ASGN Incorporated Decreased by William Blair (NYSE:ASGN)

ASGN Incorporated (NYSE:ASGN) – Investment analysts at William Blair lowered their Q3 2024 earnings estimates for shares of ASGN in a note issued to investors on Thursday, April 25th. William Blair analyst M. Nolan now forecasts that the business services provider will post earnings per share of $1.38 for the quarter, down from their previous 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 announced its quarterly earnings data on Wednesday, April 24th. The business services provider reported $1.16 EPS for the quarter, meeting analysts’ consensus estimates of $1.16. ASGN had a net margin of 4.76% and a return on equity of 14.90%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $1.38 earnings per share. The firm’s revenue was down 7.1% compared to the same quarter last year.

ASGN has been the topic of a number of other research reports. Robert W. Baird upped their price objective on ASGN from $99.00 to $104.00 and gave the stock a “neutral” rating in a report on Thursday. 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 research note on Friday. Truist Financial raised their price objective on shares of ASGN from $93.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Bank Of America (Bofa) reissued an “underweight” rating and set a $70.00 price target on shares of ASGN in a research note on Monday, January 8th. Finally, Jefferies Financial Group raised their price objective on ASGN to $88.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, ASGN currently has an average rating of “Hold” and a consensus target price of $96.67.

ASGN Stock Performance

Shares of ASGN stock opened at $97.51 on Monday. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.56. ASGN has a 12-month low of $63.27 and a 12-month high of $106.42. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 4.01 and a beta of 1.50. The stock has a 50 day simple moving average of $99.60 and a 200-day simple moving average of $93.61.

Insider Buying and Selling

In other ASGN news, President Randolph C. Blazer sold 7,746 shares of the 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 sale, the president now owns 107,923 shares in the company, valued at approximately $10,178,218.13. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Jennifer Hankes Painter sold 1,100 shares of ASGN stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $93.62, for a total transaction 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 legal filing with the SEC, which is accessible through this link. Also, President Randolph C. Blazer sold 7,746 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 directly owns 107,923 shares of the company’s stock, valued at approximately $10,178,218.13. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Institutional Trading of ASGN

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in ASGN by 38.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 615 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 171 shares during the last quarter. Meadow Creek Wealth Advisors LLC purchased a new stake in shares of ASGN in the first quarter valued at $512,000. Argent Capital Management LLC increased its stake in ASGN by 19.5% in the third quarter. Argent Capital Management LLC now owns 5,433 shares of the business services provider’s stock valued at $444,000 after purchasing an additional 887 shares during the last quarter. SG Americas Securities LLC increased its stake in ASGN by 8.1% in the third quarter. SG Americas Securities LLC now owns 15,891 shares of the business services provider’s stock valued at $1,298,000 after purchasing an additional 1,193 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its position in ASGN by 3.6% during the third quarter. Kennedy Capital Management LLC now owns 110,247 shares of the business services provider’s stock worth $9,005,000 after buying an additional 3,787 shares during the period. Institutional investors and hedge funds own 95.36% 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.