Equities Analysts Issue Forecasts for ASGN FY2024 Earnings

ASGN Incorporated (NYSE:ASGN) – Investment analysts at William Blair boosted their FY2024 earnings per share estimates for shares of ASGN in a report released on Wednesday, October 23rd. William Blair analyst M. Nolan now expects that the business services provider will post earnings per share of $5.16 for the year, up from their prior estimate of $5.15. The consensus estimate for ASGN’s current full-year earnings is $5.14 per share. William Blair also issued estimates for ASGN’s Q4 2024 earnings at $1.21 EPS, Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.42 EPS, Q3 2025 earnings at $1.53 EPS, Q4 2025 earnings at $1.42 EPS, FY2025 earnings at $5.42 EPS and FY2026 earnings at $6.27 EPS.

ASGN (NYSE:ASGN) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $1.68 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year.

Several other equities analysts also recently weighed in on ASGN. Canaccord Genuity Group reiterated a “buy” rating and set a $115.00 target price on shares of ASGN in a research report on Thursday. BMO Capital Markets boosted their price objective on ASGN from $94.00 to $96.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Jefferies Financial Group reduced their target price on ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, ASGN presently has a consensus rating of “Hold” and an average target price of $97.44.

ASGN Stock Performance

Shares of ASGN opened at $92.75 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 2.34. ASGN has a one year low of $77.37 and a one year high of $106.42. The firm has a market capitalization of $4.26 billion, a P/E ratio of 21.47 and a beta of 1.40. The business has a fifty day moving average of $93.77 and a 200 day moving average of $93.92.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of ASGN in the 1st quarter worth $154,000. Meadow Creek Wealth Advisors LLC acquired a new stake in shares of ASGN in the 1st quarter worth $512,000. Argent Capital Management LLC increased its stake in shares of ASGN by 43.8% in the 2nd quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock worth $830,000 after acquiring an additional 2,868 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of ASGN by 28.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after acquiring an additional 2,600 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of ASGN by 1,851.6% in the 2nd quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after acquiring an additional 18,868 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ASGN news, Director Jonathan S. Holman sold 503 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $90.45, for a total value of $45,496.35. Following the sale, the director now owns 10,821 shares in the company, valued at approximately $978,759.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Jonathan S. Holman sold 503 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $90.45, for a total transaction of $45,496.35. Following the transaction, the director now owns 10,821 shares in the company, valued at $978,759.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arshad Matin sold 2,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the transaction, the director now owns 11,645 shares in the company, valued at $1,077,278.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,563 shares of company stock worth $1,279,418. 3.20% of the stock is owned by company 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.