Analysts Anticipate ASGN Inc (ASGN) Will Announce Earnings of $1.09 Per Share

Equities research analysts predict that ASGN Inc (NYSE:ASGN) will post $1.09 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for ASGN’s earnings, with the lowest EPS estimate coming in at $1.09 and the highest estimate coming in at $1.10. ASGN reported earnings of $0.83 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.3%. The business is scheduled to announce its next quarterly earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that ASGN will report full-year earnings of $4.14 per share for the current fiscal year, with EPS estimates ranging from $4.11 to $4.17. For the next financial year, analysts anticipate that the business will post earnings of $4.61 per share, with EPS estimates ranging from $4.50 to $4.65. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow ASGN.

ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.06. The company had revenue of $878.50 million during the quarter, compared to analysts’ expectations of $865.03 million. ASGN had a net margin of 5.67% and a return on equity of 19.07%. ASGN’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share.

Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of ASGN from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Wednesday, August 15th. Credit Suisse Group initiated coverage on shares of ASGN in a research report on Friday, August 10th. They set a “neutral” rating and a $92.00 price objective on the stock. Robert W. Baird restated a “neutral” rating on shares of ASGN in a research note on Thursday, July 26th. Finally, ValuEngine cut shares of ASGN from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. ASGN currently has a consensus rating of “Buy” and an average target price of $84.00.

ASGN stock traded up $0.28 during midday trading on Tuesday, reaching $79.34. The company had a trading volume of 332,527 shares, compared to its average volume of 306,532. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.28 and a quick ratio of 2.28. ASGN has a 1 year low of $51.59 and a 1 year high of $94.25. The stock has a market cap of $4.16 billion, a PE ratio of 26.01, a P/E/G ratio of 1.92 and a beta of 1.93.

In other ASGN news, CFO Edward L. Pierce sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 56,584 shares of the company’s stock, valued at $5,136,129.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Randolph C. Blazer sold 10,000 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $90.57, for a total value of $905,700.00. Following the completion of the sale, the insider now directly owns 45,837 shares of the company’s stock, valued at approximately $4,151,457.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,687 shares of company stock valued at $4,630,186. 3.90% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in ASGN in the 2nd quarter worth approximately $559,307,000. Dimensional Fund Advisors LP bought a new position in 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. Institutional investors and hedge funds own 91.66% of the company’s stock.

ASGN Company Profile

ASGN Incorporated provides IT and professional services in the technology, digital, creative, healthcare technology, engineering, life sciences, and government sectors in the United States, Europe, and Canada. The company's Apex segment offers technical, digital, and creative and scientific professionals for contract, contract-to-hire, and permanent placement positions to Fortune 1000 and mid-market clients; IT staffing and consulting services comprising IT infrastructure, application development, project management, and healthcare IT professionals; and creative, marketing, advertising, and digital professionals.

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Earnings History and Estimates for ASGN (NYSE:ASGN)

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