Why Investors Hired On Assignment Today

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of staffing firm On Assignment (NYSE: ASGN  ) jumped 13% today after releasing earnings.

So what: Revenues jumped 15.4% in the second quarter, to $417.9 million, and income from continuing operations was $17.4 million, or $0.32 per share. That beat estimates by $0.04, and the company expects to grow revenue to between $429 million and $433 million next quarter. 

Now what: The IT business remained strong with 18.4% growth over a year ago, as companies shifted spending. The acquisition of Apex Systems also appears to be paying off, because it's driving the IT business and contributing to growth. With the employment market improving, and companies still concerned about adding full-time employees, the company should continue to grow, although I think a forward P/E ratio of 24 is too expensive given the growth rate.

Interested in more info on On Assignment? Add it to your watchlist by clicking here.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2559380, ~/Articles/ArticleHandler.aspx, 5/25/2016 7:18:19 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Travis Hoium

Travis Hoium has been writing for since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things.

Today's Market

updated 10 hours ago Sponsored by:
DOW 17,706.05 213.12 1.22%
S&P 500 2,076.06 28.02 1.37%
NASD 4,861.06 95.27 2.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

5/24/2016 4:02 PM
ASGN $37.74 Up +0.92 +2.50%
On Assignment, Inc… CAPS Rating: **