ManpowerGroup Inc. (MAN) Lowered to “Hold” at Zacks Investment Research
According to Zacks, “ManpowerGroup’s brand value, wide range of services and strong global network reinforces its dominant position in the market. Management continues to believe that global recovery is on track but at a slow and uneven pace. As a result, management is focusing on internal drivers like disciplined pricing and tough control on productivity to ensure uninterrupted profitability. This led the company to post better-than-expected bottom-line results in past 10 quarters. ManpowerGroup expects third-quarter earnings per share in the range of $1.66–$1.74. However, on the revenue front, the company continues to struggle and missed the estimate in the four straight quarters. The strengthening U.S. dollar will continue to affect ManpowerGroup’s quarterly performance as the international markets contribute nearly 85% of its revenues. More importantly, the U.K.’s exit from EU will have an impact on business.”
A number of other research analysts have also recently issued reports on MAN. Bank of America Corp. cut shares of ManpowerGroup from a neutral rating to an underperform rating in a research note on Friday, June 24th. William Blair lowered shares of ManpowerGroup from an outperform rating to a market perform rating in a report on Friday, June 24th. Credit Suisse Group AG lowered shares of ManpowerGroup from an outperform rating to a neutral rating and lowered their price target for the company from $88.00 to $73.00 in a report on Monday, June 27th. Avondale Partners lowered shares of ManpowerGroup from an outperform rating to a market perform rating and raised their price target for the company from $74.00 to $96.00 in a report on Monday, June 27th. Finally, BMO Capital Markets reissued a buy rating on shares of ManpowerGroup in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $82.83.
Shares of ManpowerGroup (NYSE:MAN) traded up 0.62% during midday trading on Monday, hitting $71.94. The stock had a trading volume of 137,514 shares. The stock has a market cap of $4.93 billion, a PE ratio of 12.30 and a beta of 1.82. ManpowerGroup has a 52 week low of $57.26 and a 52 week high of $93.34. The stock has a 50-day moving average of $71.02 and a 200 day moving average of $73.19.
ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, July 21st. The company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.08. ManpowerGroup had a net margin of 2.23% and a return on equity of 17.19%. The company earned $5 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. ManpowerGroup’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts anticipate that ManpowerGroup will post $5.90 EPS for the current fiscal year.
In related news, EVP Handel Michael J. Van sold 57,348 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $70.13, for a total value of $4,021,815.24. Following the transaction, the executive vice president now owns 40,931 shares in the company, valued at approximately $2,870,491.03. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Handel Michael J. Van sold 31,855 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $69.77, for a total transaction of $2,222,523.35. Following the completion of the transaction, the executive vice president now owns 31,378 shares in the company, valued at approximately $2,189,243.06. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. MSI Financial Services Inc raised its position in shares of ManpowerGroup by 208.7% in the third quarter. MSI Financial Services Inc now owns 1,627 shares of the company’s stock worth $118,000 after buying an additional 1,100 shares during the period. Acrospire Investment Management LLC raised its position in shares of ManpowerGroup by 124.9% in the second quarter. Acrospire Investment Management LLC now owns 1,799 shares of the company’s stock worth $116,000 after buying an additional 999 shares during the last quarter. PineBridge Investments L.P. acquired a new position in shares of ManpowerGroup during the second quarter worth about $156,000. Bayesian Capital Management LP acquired a new position in shares of ManpowerGroup during the first quarter worth about $212,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of ManpowerGroup during the second quarter worth about $192,000. Institutional investors and hedge funds own 94.88% of the company’s stock.
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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