ManpowerGroup (NYSE:MAN) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

ManpowerGroup (NYSE:MAN) posted its quarterly earnings data on Thursday. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.04, Briefing.com reports. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.44 billion. ManpowerGroup had a return on equity of 11.45% and a net margin of 0.27%. The firm’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. ManpowerGroup updated its Q2 2024 guidance to 1.240-1.340 EPS and its Q2 guidance to $1.24-1.34 EPS.

ManpowerGroup Stock Up 1.1 %

MAN opened at $74.84 on Friday. The company has a market cap of $3.62 billion, a P/E ratio of 77.16, a P/E/G ratio of 0.63 and a beta of 1.54. The business’s 50-day moving average price is $73.32 and its 200-day moving average price is $74.37. The company has a current ratio of 1.17, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. ManpowerGroup has a 12 month low of $67.35 and a 12 month high of $88.91.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAN. UBS Group dropped their price objective on ManpowerGroup from $81.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday. William Blair initiated coverage on ManpowerGroup in a research note on Monday, January 8th. They set a “market perform” rating for the company. Truist Financial lifted their price target on ManpowerGroup from $75.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. BNP Paribas reaffirmed an “underperform” rating and set a $70.00 price target on shares of ManpowerGroup in a research note on Friday, January 5th. Finally, StockNews.com lowered ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.13.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Captrust Financial Advisors increased its holdings in ManpowerGroup by 72.6% during the 1st quarter. Captrust Financial Advisors now owns 858 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 361 shares during the period. Penserra Capital Management LLC purchased a new position in ManpowerGroup during the 3rd quarter valued at about $97,000. Industrial Alliance Investment Management Inc. increased its holdings in ManpowerGroup by 671.3% during the 4th quarter. Industrial Alliance Investment Management Inc. now owns 1,211 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 1,054 shares during the period. Lazard Asset Management LLC increased its holdings in ManpowerGroup by 14.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,737 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 219 shares during the period. Finally, Covestor Ltd increased its holdings in ManpowerGroup by 171.5% during the 1st quarter. Covestor Ltd now owns 1,857 shares of the business services provider’s stock valued at $174,000 after purchasing an additional 1,173 shares during the period. Hedge funds and other institutional investors own 98.03% of the company’s stock.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.