On Assignment, Inc. (ASGN) Releases Q3 Earnings Guidance
On Assignment, Inc. (NASDAQ:ASGN) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.83-0.86 for the period, compared to the Thomson Reuters consensus estimate of $0.84. The company issued revenue guidance of $618-626 million, compared to the consensus revenue estimate of $624.53 million.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of On Assignment from a buy rating to a hold rating in a research report on Wednesday, June 15th. Deutsche Bank AG initiated coverage on shares of On Assignment in a research report on Wednesday, August 17th. They issued a buy rating and a $44.00 target price for the company. Finally, BMO Capital Markets reissued a buy rating and issued a $45.00 price target on shares of On Assignment in a research note on Wednesday, September 7th.
Shares of On Assignment, Inc. (NASDAQ:ASGN) opened at 36.05 on Wednesday. The firm has a 50-day moving average of $36.91 and a 200 day moving average of $36.75. The company has a market capitalization of $1.92 billion and a P/E ratio of 21.97. On Assignment, Inc. has a 1-year low of $29.34 and a 1-year high of $51.00.
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On Assignment (NASDAQ:ASGN) last posted its earnings results on Wednesday, July 27th. The company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.02. The company had revenue of $608.10 million for the quarter, compared to analysts’ expectations of $600.12 million. The business’s revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. On average, analysts anticipate that On Assignment, Inc. will post $3.11 EPS for the current year.
In other On Assignment news, COO Michael Mcgowan sold 4,000 shares of On Assignment stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $37.17, for a total value of $148,680.00. Following the completion of the transaction, the chief operating officer now directly owns 213,106 shares of the company’s stock, valued at approximately $7,921,150.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Institutional investors have recently modified their holdings of the company. Miles Capital Inc. acquired a new position in shares of On Assignment during the second quarter worth approximately $257,000. Cantab Capital Partners LLP acquired a new position in shares of On Assignment during the second quarter worth approximately $357,000. Fifth Third Bancorp acquired a new position in shares of On Assignment during the second quarter worth approximately $547,000. HighTower Advisors LLC acquired a new position in shares of On Assignment during the second quarter worth approximately $640,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of On Assignment by 103.2% in the second quarter. Janney Montgomery Scott LLC now owns 17,466 shares of the company’s stock worth $646,000 after buying an additional 8,871 shares during the last quarter.
On Assignment Company Profile
On Assignment, Inc is a provider of professionals in the technology, life sciences and creative sectors. The Company matches people into positions for contract, contract-to-hire and direct hire assignments. Its operating segments include the Apex Segment and the Oxford Segment. The Apex Segment provides a spectrum of technical and scientific professionals for contract, contract-to-hire and permanent placement positions to Fortune 1000 and mid-market clients across the United States.
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