ASGN (NYSE:ASGN) Issues Q4 2024 Earnings Guidance

ASGN (NYSE:ASGN) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.180-1.240 for the period, compared to the consensus EPS 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 Stock Performance

Shares of NYSE:ASGN traded up $0.38 during trading on Wednesday, reaching $93.04. The company had a trading volume of 442,668 shares, compared to its average volume of 291,696. The stock’s fifty day moving average price is $93.57 and its 200 day moving average price is $93.97. ASGN has a fifty-two week low of $76.70 and a fifty-two week high of $106.42. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 21.54 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 2.34.

ASGN (NYSE:ASGN) last announced its quarterly earnings data 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 return on equity of 14.30% and a net margin of 4.56%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. ASGN’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, equities research analysts predict that ASGN will post 5.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of ASGN in a report on Thursday, July 25th. Jefferies Financial Group dropped their price objective on ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, September 9th. Two equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $97.22.

Insider Buying and Selling at ASGN

In other news, Director Arshad Matin sold 2,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $92.51, for a total value of $185,020.00. Following the sale, the director now directly owns 11,645 shares in the company, valued at $1,077,278.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Arshad Matin sold 2,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $92.51, for a total value of $185,020.00. Following the sale, the director now directly owns 11,645 shares in the company, valued at $1,077,278.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan S. Holman sold 503 shares of the 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 owns 10,821 shares in the company, valued at $978,759.45. 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 owned by corporate insiders.

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.