Truist Securities Brokers Boost Earnings Estimates for ASGN Incorporated (NYSE:ASGN)

ASGN Incorporated (NYSE:ASGN) – Research analysts at Truist Securities upped their Q1 2022 earnings per share (EPS) estimates for shares of ASGN in a report issued on Tuesday, January 11th. Truist Securities analyst T. Sommer now expects that the business services provider will post earnings of $1.24 per share for the quarter, up from their previous estimate of $1.21. Truist Securities also issued estimates for ASGN’s Q2 2022 earnings at $1.46 EPS, Q3 2022 earnings at $1.65 EPS, Q4 2022 earnings at $1.57 EPS, FY2022 earnings at $5.91 EPS and FY2023 earnings at $6.59 EPS.

Other analysts also recently issued reports about the company. Robert W. Baird raised their price objective on ASGN from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Monday, September 27th. Truist lifted their target price on ASGN from $130.00 to $150.00 in a research report on Tuesday. Finally, Zacks Investment Research raised ASGN from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $132.50.

Shares of NYSE:ASGN opened at $118.45 on Thursday. The business has a 50-day moving average price of $123.86 and a 200 day moving average price of $113.22. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 16.66 and a beta of 2.03. ASGN has a 12-month low of $82.69 and a 12-month high of $131.89.

ASGN (NYSE:ASGN) last issued its quarterly earnings data on Tuesday, October 26th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.11. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. ASGN had a return on equity of 16.93% and a net margin of 9.31%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.27 EPS.

In other news, CFO Edward L. Pierce sold 30,000 shares of ASGN stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $128.25, for a total value of $3,847,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marty R. Kittrell sold 1,500 shares of ASGN stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $122.65, for a total value of $183,975.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,500 shares of company stock valued at $8,962,755. 3.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC lifted its stake in ASGN by 0.7% during the third quarter. Essex Investment Management Co. LLC now owns 22,030 shares of the business services provider’s stock worth $2,492,000 after purchasing an additional 151 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in ASGN by 0.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 51,246 shares of the business services provider’s stock worth $5,798,000 after purchasing an additional 235 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in ASGN by 24.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 2,326 shares of the business services provider’s stock worth $264,000 after purchasing an additional 450 shares during the last quarter. Stanley Laman Group Ltd. lifted its stake in ASGN by 6.1% during the third quarter. Stanley Laman Group Ltd. now owns 20,501 shares of the business services provider’s stock worth $2,319,000 after purchasing an additional 1,170 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in ASGN by 1.6% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 115,799 shares of the business services provider’s stock worth $13,101,000 after purchasing an additional 1,771 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

ASGN Company Profile

ASGN, Inc engages in the provision of information technology and professional services in the technology, digital, creative, engineering, and life sciences fields in the commercial and government sectors. It operates through the following segments: Apex, Oxford, and ECS. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.

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Earnings History and Estimates for ASGN (NYSE:ASGN)

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