On Assignment, Inc. (ASGN) Expected to Post Earnings of $0.75 Per Share
Brokerages predict that On Assignment, Inc. (NASDAQ:ASGN) will announce earnings of $0.75 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for On Assignment’s earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at $0.74. On Assignment posted earnings per share of $0.74 in the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The business is expected to announce its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that On Assignment will report full-year earnings of $2.85 per share for the current financial year, with EPS estimates ranging from $2.80 to $2.91. For the next fiscal year, analysts anticipate that the company will post earnings of $3.10 per share, with EPS estimates ranging from $3.00 to $3.30. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for On Assignment.
On Assignment (NASDAQ:ASGN) last released its earnings results on Wednesday, July 26th. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. The firm had revenue of $653.31 million for the quarter, compared to the consensus estimate of $655.96 million. On Assignment had a net margin of 5.09% and a return on equity of 14.70%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS.
ASGN has been the topic of several research reports. Robert W. Baird restated a “hold” rating and set a $53.00 price target on shares of On Assignment in a research note on Sunday, September 3rd. Zacks Investment Research upgraded On Assignment from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Tuesday, June 13th. BidaskClub upgraded On Assignment from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BMO Capital Markets raised their price target on On Assignment from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $55.67.
Shares of On Assignment (ASGN) opened at 48.43 on Friday. The stock has a 50 day moving average of $48.05 and a 200-day moving average of $49.97. On Assignment has a 52-week low of $32.05 and a 52-week high of $55.53. The stock has a market capitalization of $2.56 billion and a P/E ratio of 23.78.
In other On Assignment news, Director Jeremy M. Jones sold 20,000 shares of On Assignment stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $54.46, for a total value of $1,089,200.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan S. Holman sold 2,000 shares of On Assignment stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $54.29, for a total value of $108,580.00. Following the completion of the transaction, the director now owns 22,122 shares in the company, valued at approximately $1,201,003.38. The disclosure for this sale can be found here. Insiders sold 52,250 shares of company stock worth $2,834,985 in the last quarter.
Institutional investors and hedge funds have recently bought and sold shares of the business. FNY Partners Fund LP grew its stake in On Assignment by 266.2% in the first quarter. FNY Partners Fund LP now owns 2,197 shares of the company’s stock valued at $106,000 after purchasing an additional 1,597 shares during the last quarter. First Quadrant L P CA purchased a new position in On Assignment in the second quarter valued at about $112,000. Tyers Asset Management LLC grew its stake in On Assignment by 13.0% in the first quarter. Tyers Asset Management LLC now owns 2,436 shares of the company’s stock valued at $118,000 after purchasing an additional 280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in On Assignment by 9.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,242 shares of the company’s stock valued at $121,000 after purchasing an additional 202 shares during the last quarter. Finally, Flinton Capital Management LLC grew its stake in On Assignment by 13.0% in the first quarter. Flinton Capital Management LLC now owns 2,958 shares of the company’s stock valued at $144,000 after purchasing an additional 340 shares during the last quarter.
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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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