Q3 2024 EPS Estimates for ASGN Incorporated Lowered by William Blair (NYSE:ASGN)

ASGN Incorporated (NYSE:ASGN) – William Blair reduced their Q3 2024 earnings per share (EPS) estimates for shares of ASGN in a research note issued on Thursday, July 25th. William Blair analyst M. Nolan now anticipates that the business services provider will post earnings of $1.35 per share for the quarter, down from their previous estimate of $1.38. The consensus estimate for ASGN’s current full-year earnings is $5.28 per share. William Blair also issued estimates for ASGN’s Q1 2025 earnings at $1.15 EPS, Q2 2025 earnings at $1.47 EPS, Q3 2025 earnings at $1.63 EPS, Q4 2025 earnings at $1.50 EPS and FY2025 earnings at $5.74 EPS.

ASGN (NYSE:ASGN) last posted its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. ASGN had a net margin of 4.56% and a return on equity of 14.15%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $1.59 earnings per share. ASGN’s revenue for the quarter was down 8.5% compared to the same quarter last year.

A number of other brokerages have also recently commented on ASGN. Robert W. Baird lifted their price objective on ASGN from $99.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. BMO Capital Markets decreased their target price on ASGN from $95.00 to $94.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $115.00 price target on shares of ASGN in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.22.

ASGN Stock Performance

Shares of ASGN stock opened at $92.77 on Friday. The firm has a fifty day moving average of $92.97 and a two-hundred day moving average of $95.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.51 and a current ratio of 2.51. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 8.39 and a beta of 1.40. ASGN has a 52 week low of $75.85 and a 52 week high of $106.42.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. LRI Investments LLC acquired a new stake in ASGN in the 1st quarter valued at about $154,000. Meadow Creek Wealth Advisors LLC acquired a new stake in shares of ASGN in the first quarter valued at approximately $512,000. Argent Capital Management LLC boosted its stake in shares of ASGN by 8.9% during the 4th quarter. Argent Capital Management LLC now owns 5,917 shares of the business services provider’s stock worth $569,000 after acquiring an additional 484 shares during the period. SG Americas Securities LLC increased its holdings in shares of ASGN by 1,851.6% during 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. Finally, Reinhart Partners LLC. raised its stake in ASGN by 0.9% in the 1st quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock valued at $57,440,000 after acquiring an additional 4,931 shares during the period. Institutional investors own 95.36% of the company’s stock.

Insider Buying and Selling at ASGN

In other news, Director Carol Lindstrom sold 1,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $97.04, for a total transaction of $97,040.00. Following the completion of the transaction, the director now directly owns 5,639 shares in the company, valued at approximately $547,208.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other ASGN news, Director Carol Lindstrom sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $97.04, for a total transaction of $97,040.00. Following the transaction, the director now owns 5,639 shares of the company’s stock, valued at approximately $547,208.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Randolph C. Blazer sold 6,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $98.00, for a total value of $588,000.00. Following the completion of the sale, the president now directly owns 101,923 shares of the company’s stock, valued at approximately $9,988,454. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

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.