On Assignment, Inc. (ASGN) Expected to Announce Quarterly Sales of $664.08 Million
Brokerages expect On Assignment, Inc. (NASDAQ:ASGN) to report sales of $664.08 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for On Assignment’s earnings, with estimates ranging from $661.88 million to $666.37 million. On Assignment posted sales of $620.88 million during the same quarter last year, which would indicate a positive year over year growth rate of 7%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, February 13th.
According to Zacks, analysts expect that On Assignment will report full year sales of $664.08 million for the current year. For the next year, analysts expect that the business will report sales of $2.80 billion per share, with estimates ranging from $2.74 billion to $2.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover On Assignment.
On Assignment (NASDAQ:ASGN) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.08. On Assignment had a return on equity of 14.70% and a net margin of 5.09%. The business had revenue of $667.05 million during the quarter, compared to analyst estimates of $660.90 million. During the same quarter in the previous year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year.
A number of brokerages have recently issued reports on ASGN. Zacks Investment Research cut On Assignment from a “hold” rating to a “sell” rating in a report on Friday, July 28th. BMO Capital Markets increased their target price on On Assignment from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Royal Bank Of Canada increased their target price on On Assignment from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Robert W. Baird reissued a “hold” rating and issued a $59.00 target price on shares of On Assignment in a report on Friday, October 27th. Finally, BidaskClub raised On Assignment from a “hold” rating to a “buy” rating in a report on Thursday, September 21st. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $59.50.
In other On Assignment news, Director Marty R. Kittrell sold 3,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $59.63, for a total value of $178,890.00. Following the transaction, the director now directly owns 6,244 shares in the company, valued at approximately $372,329.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter T. Dameris sold 24,911 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $59.13, for a total value of $1,472,987.43. Following the completion of the transaction, the chief executive officer now owns 100,086 shares in the company, valued at $5,918,085.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,443 shares of company stock worth $17,589,320.
Institutional investors and hedge funds have recently made changes to their positions in the business. First Quadrant L P CA bought a new position in On Assignment in the 2nd quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in On Assignment by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,242 shares of the company’s stock valued at $121,000 after buying an additional 202 shares during the last quarter. Pitcairn Co. bought a new position in On Assignment in the 2nd quarter valued at $211,000. CIBC Asset Management Inc bought a new position in On Assignment in the 2nd quarter valued at $216,000. Finally, Teacher Retirement System of Texas bought a new position in On Assignment in the 2nd quarter valued at $218,000.
On Assignment Company Profile
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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