ManpowerGroup (NYSE:MAN) Issues Earnings Results

ManpowerGroup (NYSE:MAN - Get Free Report) released its quarterly earnings results on Thursday. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04, Briefing.com reports. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The company's revenue for the quarter was down 7.3% on a year-over-year basis. ManpowerGroup updated its Q2 2024 guidance to 1.240-1.340 EPS and its Q2 guidance to $1.24-1.34 EPS.

ManpowerGroup Trading Up 1.1 %

Shares of ManpowerGroup stock traded up $0.81 during mid-day trading on Friday, hitting $74.84. The stock had a trading volume of 534,323 shares, compared to its average volume of 396,794. The firm has a 50-day moving average of $73.32 and a two-hundred day moving average of $74.37. ManpowerGroup has a 12-month low of $67.35 and a 12-month high of $88.91. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.44. The firm has a market cap of $3.62 billion, a P/E ratio of 44.81, a price-to-earnings-growth ratio of 0.60 and a beta of 1.54.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAN. UBS Group reduced their price target on shares of ManpowerGroup from $81.00 to $80.00 and set a "neutral" rating for the company in a research report on Friday. BMO Capital Markets reduced their price target on shares of ManpowerGroup from $86.00 to $85.00 and set a "market perform" rating for the company in a research report on Thursday, February 1st. William Blair began coverage on shares of ManpowerGroup in a research report on Monday, January 8th. They set a "market perform" rating for the company. Truist Financial upped their price objective on shares of ManpowerGroup from $75.00 to $78.00 and gave the company a "hold" rating in a research note on Wednesday, January 31st. Finally, BNP Paribas reaffirmed an "underperform" rating and set a $70.00 price objective on shares of ManpowerGroup in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, ManpowerGroup has a consensus rating of "Hold" and a consensus target price of $83.13.

Institutional Trading of ManpowerGroup

Hedge funds have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of ManpowerGroup in the 2nd quarter valued at approximately $247,000. Advisor Partners II LLC purchased a new position in shares of ManpowerGroup during the 4th quarter worth approximately $232,000. Rockefeller Capital Management L.P. boosted its position in shares of ManpowerGroup by 171.1% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,744 shares of the business services provider's stock worth $225,000 after purchasing an additional 1,732 shares during the period. Corton Capital Inc. purchased a new position in shares of ManpowerGroup during the 1st quarter worth approximately $209,000. Finally, LPL Financial LLC acquired a new stake in ManpowerGroup during the 4th quarter worth approximately $206,000. 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.