ManpowerGroup (NYSE:MAN) Sets New 1-Year Low - Should You Sell?

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) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $37.99 and last traded at $38.20, with a volume of 228288 shares changing hands. The stock had previously closed at $39.25.

Wall Street Analyst Weigh In

MAN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of ManpowerGroup from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group increased their target price on shares of ManpowerGroup from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. cut their price target on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 21st. BMO Capital Markets cut their price target on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Finally, Truist Financial cut their price target on shares of ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a report on Monday, April 21st. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $48.20.

ManpowerGroup Stock Up 2.7%

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.88 billion, a PE ratio of -106.59 and a beta of 1.08. The business's 50 day simple moving average is $41.88 and its 200 day simple moving average is $48.28.

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

Hedge Funds Weigh In On ManpowerGroup

A number of large investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC increased its holdings in shares of ManpowerGroup by 2.1% in the 1st quarter. SummerHaven Investment Management LLC now owns 11,657 shares of the business services provider's stock valued at $675,000 after purchasing an additional 238 shares during the period. Fifth Third Bancorp increased its holdings in ManpowerGroup by 48.6% in the first quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock worth $43,000 after buying an additional 243 shares during the last quarter. CW Advisors LLC increased its holdings in ManpowerGroup by 4.1% in the first quarter. CW Advisors LLC now owns 6,953 shares of the business services provider's stock worth $402,000 after buying an additional 273 shares during the last quarter. Principal Financial Group Inc. increased its holdings in ManpowerGroup by 0.3% in the first quarter. Principal Financial Group Inc. now owns 107,969 shares of the business services provider's stock worth $6,249,000 after buying an additional 278 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in ManpowerGroup by 11.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,756 shares of the business services provider's stock worth $111,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 98.03% of the company's stock.

ManpowerGroup Company Profile

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.