ASGN (NYSE:ASGN) Releases Earnings Results, Beats Estimates By $0.09 EPS

Key Points

• ASGN reported earnings of $1.31 EPS for the quarter, exceeding analyst estimates of $1.22 by $0.09.
• The company’s market capitalization is $2.12 billion, with a current ratio and quick ratio of 2.11, indicating strong liquidity.
• Recent analyst ratings have varied, with two analysts giving a buy rating and three assigning a sell rating, reflecting mixed investor sentiment.

ASGN (NYSE:ASGN - Get Free Report) issued its earnings results on Wednesday. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.09, Zacks reports. ASGN had a return on equity of 11.90% and a net margin of 3.50%.

ASGN Price Performance

ASGN stock traded up $0.30 during mid-day trading on Wednesday, reaching $48.32. 915,251 shares of the company traded hands, compared to its average volume of 542,204. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.11 and a quick ratio of 2.11. The company has a market capitalization of $2.12 billion, a P/E ratio of 15.29 and a beta of 0.93. ASGN has a 52-week low of $45.10 and a 52-week high of $101.66. The company has a fifty day moving average price of $50.22 and a 200-day moving average price of $52.07.

Analyst Ratings Changes

ASGN has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price objective on ASGN from $56.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Jefferies Financial Group restated an "underperform" rating and set a $42.00 price objective (down from $53.00) on shares of ASGN in a research note on Monday, July 7th. Weiss Ratings restated a "sell (d+)" rating on shares of ASGN in a research note on Wednesday, October 8th. Zacks Research upgraded ASGN from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Truist Financial dropped their price objective on ASGN from $75.00 to $65.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $60.00.

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.

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