Analysts Expect On Assignment, Inc. (ASGN) to Announce $0.76 EPS
Wall Street analysts predict that On Assignment, Inc. (NYSE:ASGN) will post earnings of $0.76 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for On Assignment’s earnings. The highest EPS estimate is $0.77 and the lowest is $0.74. On Assignment reported earnings of $0.64 per share in the same quarter last year, which would indicate a positive year over year growth rate of 18.8%. The firm is scheduled to report its next quarterly earnings results on Tuesday, February 13th.
On average, analysts expect that On Assignment will report full-year earnings of $2.97 per share for the current fiscal year, with EPS estimates ranging from $2.95 to $2.99. For the next financial year, analysts forecast that the company will post earnings of $3.28 per share, with EPS estimates ranging from $3.09 to $3.68. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover On Assignment.
On Assignment (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, October 25th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.08. On Assignment had a return on equity of 15.11% and a net margin of 5.23%. The business had revenue of $667.05 million during the quarter, compared to the consensus estimate of $660.90 million. During the same quarter last year, the firm posted $0.74 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis.
Several equities research analysts have issued reports on the company. Zacks Investment Research raised On Assignment from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Wednesday. BMO Capital Markets lifted their target price on On Assignment from $66.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday. ValuEngine raised On Assignment from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Wells Fargo & Co lifted their target price on On Assignment to $71.00 and gave the stock an “outperform” rating in a report on Friday, December 29th. Finally, SunTrust Banks reissued a “buy” rating on shares of On Assignment in a report on Friday, December 8th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $66.50.
Shares of On Assignment (NYSE ASGN) opened at $65.95 on Thursday. On Assignment has a twelve month low of $43.25 and a twelve month high of $68.29. The stock has a market capitalization of $3,490.00, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 2.05 and a beta of 2.12. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.66.
In related news, Director Brian J. Callaghan sold 20,250 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $64.00, for a total value of $1,296,000.00. Following the completion of the transaction, the director now owns 392,930 shares of the company’s stock, valued at $25,147,520. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey E. Veatch sold 129,066 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $58.61, for a total value of $7,564,558.26. Following the completion of the transaction, the insider now directly owns 364,202 shares of the company’s stock, valued at approximately $21,345,879.22. The disclosure for this sale can be found here. Insiders have sold 522,765 shares of company stock valued at $31,020,382 in the last three months. Insiders own 5.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ASGN. Pinebridge Investments L.P. raised its stake in On Assignment by 12.5% in the third quarter. Pinebridge Investments L.P. now owns 25,944 shares of the business services provider’s stock valued at $1,393,000 after purchasing an additional 2,879 shares in the last quarter. Stifel Financial Corp raised its stake in On Assignment by 6.2% in the third quarter. Stifel Financial Corp now owns 287,428 shares of the business services provider’s stock valued at $15,451,000 after purchasing an additional 16,813 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in On Assignment in the third quarter valued at about $419,000. Bamco Inc. NY raised its stake in On Assignment by 5.5% in the third quarter. Bamco Inc. NY now owns 1,910,100 shares of the business services provider’s stock valued at $102,534,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in On Assignment in the third quarter valued at about $280,000. 90.15% of the stock is owned by institutional investors and hedge funds.
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About On Assignment
On Assignment, Inc is a global provider of in-demand, skilled professionals in the technology, life sciences and creative sectors. The Company matches resumes with job descriptions to match people they know into positions they understand for temporary, contract-to-hire, and direct hire assignments. It operates through two segments.
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