Analysts Expect ASGN Inc (ASGN) Will Announce Quarterly Sales of $892.43 Million

Equities analysts expect ASGN Inc (NYSE:ASGN) to post $892.43 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for ASGN’s earnings, with the highest sales estimate coming in at $893.10 million and the lowest estimate coming in at $891.77 million. ASGN reported sales of $667.05 million during the same quarter last year, which indicates a positive year-over-year growth rate of 33.8%. The firm is scheduled to announce its next earnings report on Wednesday, October 24th.

According to Zacks, analysts expect that ASGN will report full year sales of $3.34 billion for the current year, with estimates ranging from $3.34 billion to $3.35 billion. For the next financial year, analysts expect that the firm will post sales of $3.72 billion per share, with estimates ranging from $3.68 billion to $3.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover ASGN.

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

Several research analysts have recently commented on ASGN shares. Credit Suisse Group started coverage on shares of ASGN in a research note on Friday. They issued a “neutral” rating and a $92.00 price objective for the company. Zacks Investment Research lowered shares of ASGN from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. BMO Capital Markets lowered their price objective on shares of ASGN from $101.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, April 26th. Robert W. Baird reissued a “neutral” rating on shares of ASGN in a research note on Thursday, July 26th. Finally, ValuEngine downgraded shares of ASGN from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $84.00.

In related news, CEO Peter T. Dameris sold 18,750 shares of ASGN stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $82.44, for a total value of $1,545,750.00. Following the completion of the transaction, the chief executive officer now owns 151,621 shares in the company, valued at $12,499,635.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan S. Holman sold 2,000 shares of ASGN stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $92.71, for a total transaction of $185,420.00. Following the completion of the transaction, the director now owns 14,818 shares of the company’s stock, valued at approximately $1,373,776.78. The disclosure for this sale can be found here. Insiders sold 46,437 shares of company stock valued at $4,075,926 in the last quarter. 3.90% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Pier 88 Investment Partners LLC acquired a new stake in ASGN during the second quarter worth approximately $684,000. Millennium Management LLC acquired a new stake in ASGN during the fourth quarter worth approximately $5,637,000. LS Investment Advisors LLC acquired a new stake in ASGN during the second quarter worth approximately $281,000. Xact Kapitalforvaltning AB acquired a new stake in ASGN during the fourth quarter worth approximately $342,000. Finally, Winslow Evans & Crocker Inc. acquired a new stake in ASGN during the second quarter worth approximately $154,000. 81.85% of the stock is currently owned by institutional investors.

Shares of NYSE ASGN traded down $0.56 during midday trading on Tuesday, hitting $90.90. The company’s stock had a trading volume of 201,107 shares, compared to its average volume of 322,428. The company has a debt-to-equity ratio of 1.16, a quick ratio of 3.02 and a current ratio of 2.28. ASGN has a 1 year low of $44.66 and a 1 year high of $94.25. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 2.21 and a beta of 1.91.

About ASGN

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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