ASGN (NYSE:ASGN) Posts Earnings Results

ASGN (NYSE:ASGN) posted its quarterly earnings data on Wednesday. The business services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.27, MarketWatch Earnings reports. ASGN had a net margin of 4.79% and a return on equity of 18.50%. The business had revenue of $936.80 million during the quarter, compared to analysts’ expectations of $898.82 million. During the same period last year, the firm posted $1.10 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. ASGN updated its Q3 2020
After-Hours guidance to 1.04-1.14 EPS and its Q3 guidance to $0.80-0.90 EPS.

NYSE ASGN traded down $1.93 on Friday, hitting $68.46. 286,889 shares of the company were exchanged, compared to its average volume of 272,331. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.39 and a quick ratio of 2.19. ASGN has a twelve month low of $29.04 and a twelve month high of $72.66. The firm has a market capitalization of $3.59 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 3.20 and a beta of 2.34. The company’s 50 day moving average price is $65.28 and its 200-day moving average price is $56.10.

A number of equities analysts have issued reports on the company. BMO Capital Markets decreased their price target on ASGN from $78.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, April 20th. Wells Fargo & Co reaffirmed a “buy” rating and set a $60.00 target price (up from $57.00) on shares of ASGN in a report on Friday, May 1st. Zacks Investment Research upgraded shares of ASGN from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Friday, July 17th. Royal Bank of Canada raised their price objective on shares of ASGN from $54.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Credit Suisse Group boosted their target price on shares of ASGN from $50.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $65.25.

In other news, Director Jonathan S. Holman sold 1,197 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $52.20, for a total value of $62,483.40. Following the completion of the sale, the director now owns 14,005 shares in the company, valued at $731,061. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan S. Holman sold 500 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $54.42, for a total value of $27,210.00. Following the sale, the director now owns 14,005 shares of the company’s stock, valued at $762,152.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,151 shares of company stock valued at $2,403,163. Corporate insiders own 3.90% of the company’s stock.

ASGN Company Profile

ASGN Incorporated (NYSE: ASGN) is one of the foremost providers of IT and professional services in the technology, digital, creative, engineering and life sciences fields across commercial and government sectors. Operating through its Apex, Oxford and ECS segments, ASGN helps leading corporate enterprises and government organizations develop, implement and operate critical IT and business solutions through its integrated offering of professional staffing and IT solutions.

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Earnings History for ASGN (NYSE:ASGN)

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