ManpowerGroup (NYSE:MAN) Hits New 1-Year Low on Disappointing Earnings

Shares of ManpowerGroup Inc. (NYSE:MAN - Get Free Report) reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $41.72 and last traded at $42.77, with a volume of 455490 shares traded. The stock had previously closed at $49.51.

The business services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). ManpowerGroup had a return on equity of 10.19% and a net margin of 0.81%. The business had revenue of $698.30 million during the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter last year, the business posted $0.94 EPS.

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial decreased their price objective on shares of ManpowerGroup from $55.00 to $48.00 and set a "hold" rating for the company in a report on Monday. BMO Capital Markets cut their price objective on ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating on the stock in a research report on Monday. JPMorgan Chase & Co. decreased their target price on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research report on Monday. UBS Group dropped their price target on ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Finally, Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and decreased their price objective for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, ManpowerGroup currently has an average rating of "Hold" and a consensus price target of $57.50.

Institutional Trading of ManpowerGroup

Several institutional investors have recently added to or reduced their stakes in MAN. Harbor Capital Advisors Inc. lifted its holdings in shares of ManpowerGroup by 0.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider's stock valued at $2,745,000 after purchasing an additional 234 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of ManpowerGroup by 2.1% during the 1st quarter. SummerHaven Investment Management LLC now owns 11,657 shares of the business services provider's stock valued at $675,000 after acquiring an additional 238 shares during the last quarter. Fifth Third Bancorp grew its stake 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 worth $43,000 after acquiring an additional 243 shares during the period. Vident Advisory LLC raised its holdings in shares of ManpowerGroup by 2.8% during the fourth quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider's stock valued at $618,000 after purchasing an additional 290 shares during the last quarter. Finally, Twin Capital Management Inc. lifted its position in ManpowerGroup by 1.7% during the fourth quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider's stock valued at $1,495,000 after purchasing an additional 439 shares during the period. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

ManpowerGroup Trading Up 7.2 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 1.15. The company has a market cap of $2.00 billion, a P/E ratio of 14.34 and a beta of 1.28. The stock's 50-day moving average is $55.18 and its two-hundred day moving average is $59.27.

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.