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Strength Seen in ASGN Inc (ASGN): Can Its 6% Jump Turn into More Strength?
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ASGN Inc (ASGN - Free Report) shares soared 6% in the last trading session to close at $87.50. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.5% loss over the past four weeks.
ASGN is riding on robust performance by Commercial as well as Federal Government segments. The company is set to acquire GlideFast Consulting LLC, an elite ServiceNow Partner and leading IT consulting, which is expected to drive further top-line growth.
This staffing company is expected to post quarterly earnings of $1.67 per share in its upcoming report, which represents a year-over-year change of +26.5%. Revenues are expected to be $1.12 billion, up 14.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For ASGN Inc, the consensus EPS estimate for the quarter has been revised 3.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ASGN going forward to see if this recent jump can turn into more strength down the road.
ASGN Inc is part of the Zacks Computers - IT Services industry. Epam (EPAM - Free Report) , another stock in the same industry, closed the last trading session 0.5% lower at $326.01. EPAM has returned 1.5% in the past month.
Epam's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.71. Compared to the company's year-ago EPS, this represents a change of -16.6%. Epam currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in ASGN Inc (ASGN): Can Its 6% Jump Turn into More Strength?
ASGN Inc (ASGN - Free Report) shares soared 6% in the last trading session to close at $87.50. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.5% loss over the past four weeks.
ASGN is riding on robust performance by Commercial as well as Federal Government segments. The company is set to acquire GlideFast Consulting LLC, an elite ServiceNow Partner and leading IT consulting, which is expected to drive further top-line growth.
This staffing company is expected to post quarterly earnings of $1.67 per share in its upcoming report, which represents a year-over-year change of +26.5%. Revenues are expected to be $1.12 billion, up 14.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For ASGN Inc, the consensus EPS estimate for the quarter has been revised 3.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ASGN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
ASGN Inc is part of the Zacks Computers - IT Services industry. Epam (EPAM - Free Report) , another stock in the same industry, closed the last trading session 0.5% lower at $326.01. EPAM has returned 1.5% in the past month.
Epam's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.71. Compared to the company's year-ago EPS, this represents a change of -16.6%. Epam currently boasts a Zacks Rank of #3 (Hold).