ManpowerGroup (MAN) Lowered to “Sector Perform” at Royal Bank Of Canada
ManpowerGroup (NYSE:MAN) was downgraded by equities research analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Thursday.
Other analysts have also issued reports about the company. BMO Capital Markets restated a “buy” rating and issued a $124.00 target price on shares of ManpowerGroup in a research note on Friday, September 1st. BidaskClub cut shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research cut shares of ManpowerGroup from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $111.00 target price (up from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Finally, Northcoast Research reiterated a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. ManpowerGroup has an average rating of “Hold” and an average target price of $109.60.
Shares of ManpowerGroup (NYSE:MAN) opened at 117.82 on Thursday. The company has a market cap of $7.86 billion, a PE ratio of 18.02 and a beta of 1.40. The stock’s 50 day moving average price is $109.94 and its 200-day moving average price is $106.06. ManpowerGroup has a 12-month low of $70.58 and a 12-month high of $120.90.
ManpowerGroup (NYSE:MAN) last announced its earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.01). ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the business earned $1.60 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that ManpowerGroup will post $6.75 earnings per share for the current year.
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In related news, EVP Mara E. Swan sold 2,393 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $109.18, for a total value of $261,267.74. Following the completion of the sale, the executive vice president now owns 27,078 shares in the company, valued at approximately $2,956,376.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Darryl Green sold 76,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $105.83, for a total value of $8,043,080.00. Following the sale, the chief operating officer now directly owns 36,454 shares in the company, valued at approximately $3,857,926.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,858 shares of company stock valued at $13,029,300. Corporate insiders own 0.87% of the company’s stock.
Large investors have recently bought and sold shares of the business. Synovus Financial Corp lifted its holdings in shares of ManpowerGroup by 0.3% during the 2nd quarter. Synovus Financial Corp now owns 3,273 shares of the business services provider’s stock valued at $360,000 after purchasing an additional 9 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in ManpowerGroup by 0.3% during the 2nd quarter. Gateway Investment Advisers LLC now owns 17,669 shares of the business services provider’s stock worth $1,973,000 after purchasing an additional 46 shares in the last quarter. Global X Management Co. LLC increased its stake in ManpowerGroup by 2.1% during the 2nd quarter. Global X Management Co. LLC now owns 2,860 shares of the business services provider’s stock worth $319,000 after purchasing an additional 59 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in ManpowerGroup by 0.9% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 7,365 shares of the business services provider’s stock worth $755,000 after purchasing an additional 65 shares in the last quarter. Finally, Horizon Investment Services LLC increased its stake in ManpowerGroup by 3.3% during the 1st quarter. Horizon Investment Services LLC now owns 2,969 shares of the business services provider’s stock worth $305,000 after purchasing an additional 95 shares in the last quarter. 93.71% of the stock is owned by hedge funds and other institutional investors.
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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