ASGN (NYSE:ASGN) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

ASGN (NYSE:ASGN) announced its earnings results on Wednesday. The business services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.08, Briefing.com reports. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 EPS. ASGN updated its Q4 guidance to $1.18-1.24 EPS and its Q4 2024 guidance to 1.180-1.240 EPS.

ASGN Stock Performance

Shares of ASGN stock traded down $0.08 during trading on Thursday, hitting $92.96. 352,772 shares of the company’s stock were exchanged, compared to its average volume of 291,938. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 21.55 and a beta of 1.40. The business has a 50-day simple moving average of $93.67 and a 200-day simple moving average of $93.96. ASGN has a 52-week low of $77.10 and a 52-week high of $106.42. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.34 and a current ratio of 2.34.

Analyst Ratings Changes

ASGN has been the topic of several recent analyst reports. Jefferies Financial Group cut their price objective on shares of ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, September 9th. Canaccord Genuity Group restated a “buy” rating and set a $115.00 price target on shares of ASGN in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.22.

Insider Buying and Selling at ASGN

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

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.