On Assignment, Inc. (ASGN) Updates Q3 Earnings Guidance
On Assignment, Inc. (NASDAQ:ASGN) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.83-0.86 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.84. The company issued revenue guidance of $618-626 million, compared to the consensus revenue estimate of $624.53 million.
Shares of On Assignment, Inc. (NASDAQ:ASGN) opened at 37.89 on Friday. On Assignment, Inc. has a 12 month low of $29.34 and a 12 month high of $51.00. The firm has a market cap of $2.02 billion and a P/E ratio of 23.09. The stock’s 50 day moving average is $37.00 and its 200 day moving average is $36.76.
On Assignment (NASDAQ:ASGN) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.02. The business had revenue of $608.10 million for the quarter, compared to analysts’ expectations of $600.12 million. During the same period in the previous year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. Equities research analysts expect that On Assignment, Inc. will post $3.11 EPS for the current year.
Several brokerages have recently commented on ASGN. BMO Capital Markets reissued a buy rating and set a $45.00 price objective on shares of On Assignment in a report on Wednesday, September 7th. Deutsche Bank AG initiated coverage on On Assignment in a report on Wednesday, August 17th. They set a buy rating and a $44.00 price objective for the company. Finally, Zacks Investment Research downgraded On Assignment from a buy rating to a hold rating in a research report on Tuesday, June 28th.
In related news, COO Michael Mcgowan sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $37.17, for a total value of $148,680.00. Following the completion of the sale, the chief operating officer now owns 213,106 shares in the company, valued at approximately $7,921,150.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its stake in On Assignment by 2.1% in the second quarter. BlackRock Fund Advisors now owns 3,108,554 shares of the company’s stock worth $114,861,000 after buying an additional 63,033 shares during the last quarter. Elk Creek Partners LLC increased its stake in shares of On Assignment by 15.0% in the second quarter. Elk Creek Partners LLC now owns 570,391 shares of the company’s stock valued at $21,076,000 after buying an additional 74,410 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of On Assignment by 320.9% in the second quarter. Teachers Advisors Inc. now owns 329,881 shares of the company’s stock valued at $12,189,000 after buying an additional 251,501 shares during the last quarter. American Century Companies Inc. increased its stake in shares of On Assignment by 3.7% in the second quarter. American Century Companies Inc. now owns 245,742 shares of the company’s stock valued at $9,080,000 after buying an additional 8,704 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of On Assignment by 7.3% in the second quarter. Thrivent Financial for Lutherans now owns 245,378 shares of the company’s stock valued at $9,067,000 after buying an additional 16,610 shares during the last quarter.
About On Assignment
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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