Adecco (OTCMKTS:AHEXY) Shares Up 6.2% – Here’s What Happened

Adecco SA (OTCMKTS:AHEXY) shares rose 6.2% during mid-day trading on Thursday . The stock traded as high as $11.66 and last traded at $11.66. 741 shares changed hands during trading, a decline of 97% from the average daily volume of 24,081 shares. The stock had previously closed at $10.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. BNP Paribas Exane raised Adecco from a “hold” rating to a “strong-buy” rating in a report on Friday. Citigroup cut shares of Adecco from a “strong-buy” rating to a “neutral” rating in a research report on Thursday, April 30th. Zacks Research raised shares of Adecco from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. UBS Group lowered shares of Adecco from a “hold” rating to a “sell” rating in a research report on Monday, May 18th. Finally, Morgan Stanley cut shares of Adecco from a “cautious” rating to an “underweight” rating in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Adecco Stock Up 5.6%

The company has a market capitalization of $4.37 billion, a P/E ratio of 11.97, a PEG ratio of 0.92 and a beta of 0.98. The company has a 50 day simple moving average of $10.12 and a two-hundred day simple moving average of $12.08. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.73.

Adecco (OTCMKTS:AHEXY) last announced its earnings results on Wednesday, May 13th. The business services provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Adecco had a return on equity of 12.09% and a net margin of 1.31%.The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.55 billion. As a group, equities analysts predict that Adecco SA will post 1.35 EPS for the current year.

Adecco Company Profile

Adecco Group AG is a global human resources and workforce solutions provider headquartered in Zurich, Switzerland. The company specializes in temporary staffing, permanent placement, career transition, and talent development services. Its core business activities include matching job seekers with client companies, managing contingent workforce solutions, and offering consulting services related to workforce management and organizational effectiveness.

Founded in 1996 through the merger of the Swiss companies Adia Interim and ECCO, Adecco has grown into one of the world’s largest staffing firms.