ASGN Inc (NYSE:ASGN) – Equities researchers at SunTrust Banks raised their Q2 2019 earnings estimates for shares of ASGN in a research report issued to clients and investors on Thursday, April 25th. SunTrust Banks analyst T. Sommer now anticipates that the business services provider will earn $1.19 per share for the quarter, up from their previous forecast of $1.16. SunTrust Banks also issued estimates for ASGN’s Q3 2019 earnings at $1.29 EPS, Q4 2019 earnings at $1.31 EPS and Q1 2020 earnings at $1.19 EPS.
ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, April 24th. The business services provider reported $0.93 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.02). ASGN had a net margin of 4.49% and a return on equity of 20.45%. The business had revenue of $923.70 million during the quarter, compared to analysts’ expectations of $921.14 million. During the same period in the prior year, the business posted $0.83 EPS. The business’s revenue was up 34.8% on a year-over-year basis.
Several other equities research analysts also recently issued reports on ASGN. Zacks Investment Research raised shares of ASGN from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research note on Wednesday, January 9th. BMO Capital Markets reaffirmed a “buy” rating and set a $77.00 price target on shares of ASGN in a research note on Monday, January 21st. Jefferies Financial Group initiated coverage on shares of ASGN in a research note on Tuesday, March 12th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Royal Bank of Canada initiated coverage on shares of ASGN in a research note on Tuesday, April 16th. They set an “outperform” rating and a $79.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $74.00.
ASGN stock opened at $64.61 on Monday. ASGN has a 12-month low of $51.05 and a 12-month high of $94.25. The firm has a market cap of $3.41 billion, a P/E ratio of 14.75, a PEG ratio of 1.53 and a beta of 1.95. The company has a current ratio of 2.20, a quick ratio of 2.23 and a debt-to-equity ratio of 0.90.
Institutional investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC bought a new stake in shares of ASGN in the 4th quarter worth about $98,000. Group One Trading L.P. bought a new stake in shares of ASGN in the 4th quarter worth about $100,000. Cutler Group LP increased its position in shares of ASGN by 596.0% in the 4th quarter. Cutler Group LP now owns 2,102 shares of the business services provider’s stock worth $114,000 after purchasing an additional 1,800 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of ASGN in the 4th quarter worth about $120,000. Finally, Advisor Group Inc. increased its position in shares of ASGN by 12.7% in the 4th quarter. Advisor Group Inc. now owns 2,256 shares of the business services provider’s stock worth $123,000 after purchasing an additional 255 shares during the last quarter. 90.20% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director William E. Brock sold 1,480 shares of ASGN stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $61.72, for a total transaction of $91,345.60. Following the sale, the director now owns 17,513 shares of the company’s stock, valued at approximately $1,080,902.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.90% of the company’s stock.
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.