ASGN (ASGN) Set to Announce Earnings on Wednesday

ASGN (NYSE:ASGN) will announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $1.09 per share for the quarter. ASGN has set its Q1 guidance at $1.10 to $1.18 EPS and its Q1 2024 guidance at 1.100-1.180 EPS.Parties that wish to register for the company’s conference call can do so using this link.

ASGN (NYSE:ASGN) last announced its quarterly earnings data on Wednesday, February 7th. The business services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. ASGN had a return on equity of 15.52% and a net margin of 4.93%. ASGN’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.51 EPS. On average, analysts expect ASGN to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

ASGN Stock Performance

Shares of NYSE ASGN opened at $94.81 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average is $99.13 and its 200 day moving average is $92.52. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 3.84 and a beta of 1.50. ASGN has a 1-year low of $63.27 and a 1-year high of $106.42.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ASGN shares. Truist Financial lifted their price target on ASGN from $93.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Jefferies Financial Group lifted their price target on ASGN to $88.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. BMO Capital Markets lifted their price target on ASGN to $110.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Canaccord Genuity Group restated a “buy” rating and set a $110.00 price target on shares of ASGN in a research report on Wednesday, January 3rd. Finally, Bank Of America (Bofa) restated an “underweight” rating and set a $70.00 price target on shares of ASGN in a research report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, ASGN has an average rating of “Hold” and a consensus target price of $93.50.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ASGN stock. Captrust Financial Advisors boosted its position in shares of ASGN Incorporated (NYSE:ASGN) by 7.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,833 shares of the business services provider’s stock after acquiring an additional 132 shares during the quarter. Captrust Financial Advisors’ holdings in ASGN were worth $165,000 at the end of the most recent reporting period. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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.