William Blair Analysts Lower Earnings Estimates for ASGN Incorporated (NYSE:ASGN)

ASGN Incorporated (NYSE:ASGN) – Investment analysts at William Blair decreased their Q3 2024 earnings per share estimates for shares of ASGN in a research report issued on Thursday, July 25th. William Blair analyst M. Nolan now forecasts that the business services provider will post earnings per share of $1.35 for the quarter, down from their previous forecast 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 released its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.33 by $0.03. ASGN had a return on equity of 14.15% and a net margin of 4.56%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis.

ASGN has been the topic of several other research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of ASGN in a research report on Thursday. BMO Capital Markets cut their target price on ASGN from $95.00 to $94.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. Finally, Robert W. Baird increased their price target on ASGN from $99.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, ASGN has a consensus rating of “Hold” and an average price target of $97.22.

ASGN Stock Down 8.9 %

ASGN stock opened at $92.77 on Friday. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 8.39 and a beta of 1.40. The firm’s fifty day moving average price is $92.97 and its two-hundred day moving average price is $95.92. ASGN has a 1-year low of $75.85 and a 1-year high of $106.42. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.56.

Insider Activity

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

Hedge Funds Weigh In On ASGN

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

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.