ASGN Inc (NYSE:ASGN) – Equities researchers at William Blair decreased their Q3 2019 earnings per share (EPS) estimates for ASGN in a note issued to investors on Thursday, July 25th, Zacks Investment Research reports. William Blair analyst T. Mchugh now forecasts that the business services provider will earn $1.23 per share for the quarter, down from their prior estimate of $1.27. William Blair also issued estimates for ASGN’s FY2019 earnings at $4.60 EPS, Q1 2020 earnings at $1.04 EPS, Q2 2020 earnings at $1.29 EPS, Q3 2020 earnings at $1.38 EPS and FY2020 earnings at $5.13 EPS.
ASGN (NYSE:ASGN) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.09). The firm had revenue of $972.30 million during the quarter, compared to analysts’ expectations of $972.24 million. ASGN had a net margin of 4.64% and a return on equity of 19.56%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 earnings per share.
ASGN has been the subject of a number of other reports. Credit Suisse Group decreased their price objective on shares of ASGN from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, May 28th. ValuEngine raised shares of ASGN from a “strong sell” rating to a “sell” rating in a research report on Friday, June 7th. Royal Bank of Canada set a $76.00 price objective on shares of ASGN and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, SunTrust Banks reduced their price target on shares of ASGN to $84.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. ASGN has an average rating of “Buy” and a consensus price target of $74.00.
NYSE:ASGN traded up $1.98 on Friday, reaching $61.37. The stock had a trading volume of 294,400 shares, compared to its average volume of 332,777. The company has a current ratio of 2.14, a quick ratio of 2.20 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $60.41 and a 200 day moving average of $61.34. The stock has a market cap of $3.14 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.42 and a beta of 1.98. ASGN has a 12-month low of $50.33 and a 12-month high of $93.82.
Several hedge funds have recently modified their holdings of ASGN. Norges Bank bought a new position in shares of ASGN during the fourth quarter worth about $35,991,000. Invesco Ltd. raised its stake in ASGN by 380.5% during the second quarter. Invesco Ltd. now owns 789,517 shares of the business services provider’s stock worth $47,845,000 after acquiring an additional 625,197 shares during the period. Incline Global Management LLC acquired a new stake in ASGN during the second quarter worth about $27,490,000. Millennium Management LLC raised its stake in ASGN by 223.1% during the fourth quarter. Millennium Management LLC now owns 446,094 shares of the business services provider’s stock worth $24,312,000 after acquiring an additional 308,035 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in ASGN during the second quarter worth about $17,977,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.
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.