ASGN (NYSE:ASGN) Releases Q4 2024 Earnings Guidance

ASGN (NYSE:ASGN) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.180-1.240 for the period, compared to the consensus estimate of 1.250. The company issued revenue guidance of $990.0 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. ASGN also updated its Q4 guidance to $1.18-1.24 EPS.

ASGN Trading Up 0.8 %

Shares of ASGN stock traded up $0.79 during trading on Thursday, hitting $93.83. The stock had a trading volume of 542,939 shares, compared to its average volume of 292,688. ASGN has a 12 month low of $77.10 and a 12 month high of $106.42. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 2.34. The stock has a market cap of $4.31 billion, a PE ratio of 21.51 and a beta of 1.40. The firm’s fifty day simple moving average is $93.67 and its 200-day simple moving average is $93.96.

ASGN (NYSE:ASGN) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.35 by $0.08. The firm had revenue of $1.03 billion during 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 business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. As a group, sell-side analysts expect that ASGN will post 5.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ASGN shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of ASGN in a research note on Thursday. Jefferies Financial Group lowered their price target on shares of ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, ASGN currently has an average rating of “Hold” and an average price target of $97.22.

Insider Buying and Selling

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

About ASGN

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.