William Blair Has Bullish Estimate for ASGN FY2024 Earnings

ASGN Incorporated (NYSE:ASGN) – Investment analysts at William Blair increased their FY2024 earnings estimates for shares of ASGN in a report released on Wednesday, October 23rd. William Blair analyst M. Nolan now expects that the business services provider will earn $5.16 per share for the year, up from their prior forecast of $5.15. The consensus estimate for ASGN’s current full-year earnings is $5.14 per share. William Blair also issued estimates for ASGN’s Q4 2024 earnings at $1.21 EPS, Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.42 EPS, Q3 2025 earnings at $1.53 EPS, Q4 2025 earnings at $1.42 EPS, FY2025 earnings at $5.42 EPS and FY2026 earnings at $6.27 EPS.

Several other research analysts have also commented on the stock. BMO Capital Markets increased their price target on shares of ASGN from $94.00 to $96.00 and gave the stock a “market perform” rating in a research note on Friday. Canaccord Genuity Group restated a “buy” rating and set a $115.00 price target on shares of ASGN in a research note on Thursday. Finally, Jefferies Financial Group dropped their price target on shares of ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $97.44.

ASGN Stock Down 1.2 %

ASGN stock opened at $92.75 on Friday. The company has a 50 day moving average of $93.77 and a two-hundred day moving average of $93.89. ASGN has a 12-month low of $77.37 and a 12-month high of $106.42. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 21.47 and a beta of 1.40. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.57.

ASGN (NYSE:ASGN) last released its earnings results on Wednesday, October 23rd. The business services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. ASGN had a net margin of 4.56% and a return on equity of 14.30%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The company’s revenue was down 7.7% compared to the same quarter last year.

Hedge Funds Weigh In On ASGN

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Argent Capital Management LLC lifted its holdings in shares of ASGN by 12.1% during the 3rd quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock worth $984,000 after acquiring an additional 1,142 shares during the period. Reinhart Partners LLC. lifted its holdings in ASGN by 7.2% during the 3rd quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock valued at $54,912,000 after purchasing an additional 39,607 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in ASGN by 28.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after purchasing an additional 2,600 shares during the last quarter. SG Americas Securities LLC lifted its holdings in 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 valued at $1,753,000 after purchasing an additional 18,868 shares during the last quarter. Finally, LRI Investments LLC bought a new position in ASGN during the 1st quarter valued at about $154,000. 95.36% of the stock is owned by institutional investors.

Insider Activity at ASGN

In other ASGN news, President Randolph C. Blazer sold 10,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $95.03, for a total value of $950,300.00. Following the sale, the president now directly owns 85,923 shares in the company, valued at $8,165,262.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other ASGN news, President Randolph C. Blazer sold 10,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $95.03, for a total value of $950,300.00. Following the sale, the president now directly owns 85,923 shares in the company, valued at $8,165,262.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carol Lindstrom sold 1,060 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $93.02, for a total transaction of $98,601.20. Following the completion of the sale, the director now owns 4,579 shares in the company, valued at $425,938.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,563 shares of company stock worth $1,279,418. 3.20% of the stock is owned by 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.