Analysts expect that ASGN Inc (NYSE:ASGN) will post $892.43 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for ASGN’s earnings, with the highest sales estimate coming in at $893.10 million and the lowest estimate coming in at $891.77 million. ASGN posted sales of $667.05 million during the same quarter last year, which would indicate a positive year over year growth rate of 33.8%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, October 24th.
According to Zacks, analysts expect that ASGN will report full year sales of $3.34 billion for the current year, with estimates ranging from $3.34 billion to $3.35 billion. For the next financial year, analysts forecast that the business will report sales of $3.72 billion, with estimates ranging from $3.68 billion to $3.78 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover ASGN.
ASGN (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.06. The business had revenue of $878.50 million for the quarter, compared to analysts’ expectations of $865.03 million. ASGN had a return on equity of 19.07% and a net margin of 5.67%. The business’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS.
A number of analysts have recently weighed in on the company. Zacks Investment Research cut ASGN from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. ValuEngine cut ASGN from a “buy” rating to a “hold” rating in a research report on Saturday, October 6th. Robert W. Baird reissued a “neutral” rating on shares of ASGN in a report on Thursday, July 26th. Finally, Credit Suisse Group started coverage on ASGN in a report on Friday, August 10th. They issued a “neutral” rating and a $92.00 price objective for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $84.00.
In other ASGN news, CFO Edward L. Pierce sold 25,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $90.77, for a total transaction of $2,269,250.00. Following the completion of the transaction, the chief financial officer now directly owns 56,584 shares of the company’s stock, valued at approximately $5,136,129.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan S. Holman sold 2,000 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $92.71, for a total value of $185,420.00. Following the transaction, the director now directly owns 14,818 shares of the company’s stock, valued at $1,373,776.78. The disclosure for this sale can be found here. Insiders sold a total of 50,687 shares of company stock valued at $4,630,186 over the last three months. Corporate insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ASGN. BlackRock Inc. bought a new position in ASGN during the 2nd quarter valued at $559,307,000. Dimensional Fund Advisors LP acquired a new stake in shares of ASGN during the 2nd quarter valued at $166,294,000. FMR LLC acquired a new stake in shares of ASGN during the 2nd quarter valued at $117,721,000. Wells Fargo & Company MN acquired a new stake in shares of ASGN during the 2nd quarter valued at $92,244,000. Finally, OppenheimerFunds Inc. acquired a new stake in shares of ASGN during the 2nd quarter valued at $66,059,000. 91.66% of the stock is owned by hedge funds and other institutional investors.
Shares of ASGN stock traded down $0.45 on Friday, reaching $66.29. 16,847 shares of the company were exchanged, compared to its average volume of 364,831. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.91 and a beta of 1.94. ASGN has a 1-year low of $54.98 and a 1-year high of $94.25.
ASGN Company Profile
ASGN Incorporated provides IT and professional services in the technology, creative/digital, engineering, and life sciences fields across commercial and government sectors in the United State and internationally. The company operates through Apex, Oxford, and ECS segments. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.
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