Stock Track | ASGN Inc Plunges 10.58% in Pre-Market After Q4 Earnings Miss and Revenue Decline
Stock Track
Feb 05
ASGN Inc's stock plummeted 10.58% in pre-market trading following the release of its fourth-quarter financial results.
The company reported adjusted earnings of $1.15 per diluted share for Q4, down from $1.28 a year earlier and below analysts' expectations of $1.18. Revenue also declined to $980.1 million from $985 million in the prior year, although it slightly exceeded estimates.
ASGN provided guidance for the first quarter, forecasting adjusted earnings between $0.93 and $1.02 per share and revenue in the range of $960 million to $980 million. Meanwhile, Wells Fargo raised its target price for ASGN to $54 from $49, but this positive note was overshadowed by the disappointing earnings performance.
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