ManpowerGroup (NYSE:MAN) Hits New 12-Month Low - What's Next?

Key Points

• ManpowerGroup Inc. (NYSE:MAN) reached a new 12-month low, trading at $37.99 before recovering slightly to $38.20.
• Recent analyst ratings show a mix of downgrades, with price targets adjusted down significantly; Barclays set a new target of $50.00, reflecting a cautious outlook.
• In its latest earnings report, ManpowerGroup beat expectations with an EPS of $0.78 and revenue of $4.52 billion, although year-over-year revenue saw a decline of 0.5%.

ManpowerGroup Inc. (NYSE:MAN - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $37.99 and last traded at $38.20, with a volume of 228288 shares trading hands. The stock had previously closed at $39.25.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MAN. Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their target price for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. JPMorgan Chase & Co. cut their price objective on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Truist Financial lowered their target price on shares of ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a research note on Monday, April 21st. BMO Capital Markets decreased their price objective on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Finally, UBS Group increased their target price on shares of ManpowerGroup from $42.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $48.20.

ManpowerGroup Trading Down 2.1%

The company has a current ratio of 0.98, a quick ratio of 1.12 and a debt-to-equity ratio of 0.24. The business's 50-day moving average is $42.04 and its two-hundred day moving average is $48.80. The firm has a market cap of $1.78 billion, a P/E ratio of -101.25 and a beta of 1.08.

ManpowerGroup (NYSE:MAN - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The business services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.09. The business had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.34 billion. ManpowerGroup had a negative net margin of 0.09% and a positive return on equity of 7.98%. The firm's revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. As a group, analysts expect that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Colonial Trust Co SC bought a new position in ManpowerGroup in the fourth quarter valued at approximately $28,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of ManpowerGroup in the first quarter valued at approximately $30,000. Huntington National Bank raised its holdings in shares of ManpowerGroup by 41.6% in the second quarter. Huntington National Bank now owns 997 shares of the business services provider's stock valued at $40,000 after purchasing an additional 293 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of ManpowerGroup by 48.6% in the first quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock valued at $43,000 after purchasing an additional 243 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of ManpowerGroup by 190.6% in the first quarter. GAMMA Investing LLC now owns 744 shares of the business services provider's stock valued at $43,000 after purchasing an additional 488 shares during the last quarter. 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.

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