ManpowerGroup (MAN) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS
ManpowerGroup (NYSE:MAN) posted its quarterly earnings results on Friday. The business services provider reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.08, Bloomberg Earnings reports. The firm had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.41 billion. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. ManpowerGroup’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.87 earnings per share. ManpowerGroup updated its Q4 guidance to $2.01-2.09 EPS.
Shares of ManpowerGroup (NYSE MAN) traded down 2.68% on Friday, reaching $119.40. The company’s stock had a trading volume of 216,636 shares. The company’s 50 day moving average is $117.57 and its 200-day moving average is $109.00. The stock has a market cap of $7.97 billion, a PE ratio of 18.27 and a beta of 1.40. ManpowerGroup has a 1-year low of $74.07 and a 1-year high of $123.44.
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In other news, EVP Mara E. Swan sold 2,393 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $109.18, for a total value of $261,267.74. Following the sale, the executive vice president now directly owns 27,078 shares in the company, valued at $2,956,376.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Darryl Green sold 76,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $105.83, for a total value of $8,043,080.00. Following the completion of the sale, the chief operating officer now owns 36,454 shares in the company, valued at $3,857,926.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,858 shares of company stock worth $13,029,300. Corporate insiders own 0.87% of the company’s stock.
MAN has been the topic of several recent analyst reports. Zacks Investment Research raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Tuesday, July 4th. Royal Bank Of Canada reissued a “sector perform” rating and set a $111.00 price target (up from $104.00) on shares of ManpowerGroup in a research report on Friday, July 14th. BMO Capital Markets upped their price target on ManpowerGroup from $113.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, July 14th. Northcoast Research reissued a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $111.00 price target (up from $106.00) on shares of ManpowerGroup in a research report on Tuesday, July 25th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. ManpowerGroup currently has a consensus rating of “Hold” and an average target price of $120.20.
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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