ManpowerGroup Inc. (MAN) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “ManpowerGroup’s brand value, wide range of services and strong global network reinforces its dominant position in the market. Management continues to believe that global recovery is on track but at a slow and uneven pace. As a result, management is focusing on internal drivers like disciplined pricing and tough control on productivity to ensure uninterrupted profitability. This led the company to post better-than-expected bottom-line results in past 10 quarters. ManpowerGroup expects third-quarter earnings per share in the range of $1.66–$1.74. However, on the revenue front, the company continues to struggle and missed the estimate in the four straight quarters. The strengthening U.S. dollar will continue to affect ManpowerGroup’s quarterly performance as the international markets contribute nearly 85% of its revenues. More importantly, the U.K.’s exit from EU will have an impact on business.”
Other research analysts have also issued reports about the stock. Argus reissued a buy rating and set a $78.00 price target on shares of ManpowerGroup in a research report on Monday, July 25th. Barclays PLC lowered shares of ManpowerGroup from an overweight rating to an equal weight rating and dropped their price target for the company from $85.00 to $65.00 in a research report on Friday, July 1st. BMO Capital Markets reissued a buy rating on shares of ManpowerGroup in a research report on Monday, June 27th. Credit Suisse Group AG lowered shares of ManpowerGroup from an outperform rating to a neutral rating and lowered their price objective for the stock from $88.00 to $73.00 in a research report on Monday, June 27th. Finally, Deutsche Bank AG began coverage on shares of ManpowerGroup in a research report on Wednesday, August 17th. They issued a hold rating and a $77.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. ManpowerGroup presently has an average rating of Hold and a consensus price target of $82.83.
Shares of ManpowerGroup (NYSE:MAN) traded up 0.62% on Monday, hitting $71.94. 137,514 shares of the company’s stock were exchanged. The firm has a market cap of $4.93 billion, a P/E ratio of 12.30 and a beta of 1.82. The stock’s 50 day moving average is $71.02 and its 200 day moving average is $73.19. ManpowerGroup has a 12 month low of $57.26 and a 12 month high of $93.34.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.08. ManpowerGroup had a net margin of 2.23% and a return on equity of 17.19%. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the firm earned $1.33 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts predict that ManpowerGroup will post $5.90 earnings per share for the current year.
In other news, EVP Handel Michael J. Van sold 57,348 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $70.13, for a total value of $4,021,815.24. Following the completion of the sale, the executive vice president now directly owns 40,931 shares in the company, valued at approximately $2,870,491.03. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Handel Michael J. Van sold 31,855 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $69.77, for a total transaction of $2,222,523.35. Following the completion of the sale, the executive vice president now owns 31,378 shares of the company’s stock, valued at $2,189,243.06. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in MAN. BlackRock Group LTD raised its stake in shares of ManpowerGroup by 5.6% in the first quarter. BlackRock Group LTD now owns 732,142 shares of the company’s stock worth $59,610,000 after buying an additional 38,540 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in ManpowerGroup by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,687,296 shares of the company’s stock worth $218,800,000 after buying an additional 19,894 shares in the last quarter. Menta Capital LLC raised its stake in ManpowerGroup by 19.9% in the first quarter. Menta Capital LLC now owns 9,650 shares of the company’s stock worth $786,000 after buying an additional 1,600 shares in the last quarter. M&T Bank Corp raised its stake in ManpowerGroup by 1.4% in the first quarter. M&T Bank Corp now owns 9,941 shares of the company’s stock worth $808,000 after buying an additional 134 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new stake in ManpowerGroup during the first quarter worth approximately $2,557,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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