ASGN Inc (NYSE:ASGN) Expected to Announce Quarterly Sales of $998.90 Million

Brokerages expect ASGN Inc (NYSE:ASGN) to report sales of $998.90 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for ASGN’s earnings, with the highest sales estimate coming in at $1.00 billion and the lowest estimate coming in at $997.50 million. ASGN reported sales of $906.45 million in the same quarter last year, which suggests a positive year over year growth rate of 10.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, October 23rd.

On average, analysts expect that ASGN will report full-year sales of $3.90 billion for the current year, with estimates ranging from $3.88 billion to $3.91 billion. For the next fiscal year, analysts forecast that the business will post sales of $4.18 billion, with estimates ranging from $4.13 billion to $4.24 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow ASGN.

ASGN (NYSE:ASGN) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.09). ASGN had a return on equity of 19.56% and a net margin of 4.64%. The company had revenue of $972.30 million for the quarter, compared to the consensus estimate of $972.24 million. During the same quarter in the prior year, the company earned $1.11 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis.

ASGN has been the topic of a number of research analyst reports. Credit Suisse Group dropped their price target on ASGN from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. SunTrust Banks dropped their price target on ASGN to $84.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. ValuEngine upgraded ASGN from a “strong sell” rating to a “sell” rating in a research note on Friday, June 7th. Finally, Royal Bank of Canada set a $76.00 price target on ASGN and gave the company a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.00.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Municipal Employees Retirement System of Michigan grew its holdings in ASGN by 1.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,740 shares of the business services provider’s stock valued at $590,000 after buying an additional 170 shares in the last quarter. First Mercantile Trust Co. grew its holdings in ASGN by 16.8% in the 1st quarter. First Mercantile Trust Co. now owns 1,250 shares of the business services provider’s stock valued at $79,000 after buying an additional 180 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in ASGN by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the business services provider’s stock valued at $895,000 after buying an additional 200 shares in the last quarter. Chatham Capital Group Inc. grew its holdings in ASGN by 0.7% in the 1st quarter. Chatham Capital Group Inc. now owns 36,015 shares of the business services provider’s stock valued at $2,287,000 after buying an additional 263 shares in the last quarter. Finally, Miles Capital Inc. grew its holdings in ASGN by 6.7% in the 2nd quarter. Miles Capital Inc. now owns 4,608 shares of the business services provider’s stock valued at $279,000 after buying an additional 288 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

ASGN traded up $0.15 during trading hours on Friday, reaching $59.39. The company’s stock had a trading volume of 224,800 shares, compared to its average volume of 321,529. ASGN has a 52 week low of $50.33 and a 52 week high of $93.82. The company’s 50-day simple moving average is $60.31. The company has a current ratio of 2.14, a quick ratio of 2.20 and a debt-to-equity ratio of 0.80. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.44 and a beta of 1.98.

About ASGN

ASGN Incorporated provides information technology (IT) and professional staffing services in the technology, digital, creative, engineering, and life sciences fields across commercial and government sectors in the United States and internationally. The company operates through Apex, Oxford, and ECS segments.

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Earnings History and Estimates for ASGN (NYSE:ASGN)

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