ManpowerGroup (NYSE:MAN) Releases Q2 2024 Earnings Guidance

ManpowerGroup (NYSE:MAN) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.240-1.340 for the period, compared to the consensus estimate of 1.220. The company issued revenue guidance of -. ManpowerGroup also updated its Q2 guidance to $1.24-1.34 EPS.

ManpowerGroup Stock Performance

Shares of MAN opened at $70.07 on Thursday. The stock has a 50-day simple moving average of $73.26 and a 200-day simple moving average of $74.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $3.39 billion, a PE ratio of 41.96, a PEG ratio of 0.60 and a beta of 1.54. ManpowerGroup has a 1 year low of $67.35 and a 1 year high of $88.91.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Tuesday, January 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.26. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.57 billion. ManpowerGroup had a return on equity of 12.60% and a net margin of 0.47%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 EPS. On average, analysts predict that ManpowerGroup will post 5.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on MAN. StockNews.com lowered ManpowerGroup from a buy rating to a hold rating in a research report on Wednesday, January 31st. Truist Financial lifted their price target on ManpowerGroup from $75.00 to $78.00 and gave the stock a hold rating in a research report on Wednesday, January 31st. William Blair began coverage on ManpowerGroup in a research report on Monday, January 8th. They set a market perform rating on the stock. BNP Paribas reaffirmed an underperform rating and set a $70.00 price target on shares of ManpowerGroup in a research report on Friday, January 5th. Finally, BMO Capital Markets dropped their target price on ManpowerGroup from $86.00 to $85.00 and set a market perform rating on the stock in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $83.00.

Institutional Trading of ManpowerGroup

A number of institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of ManpowerGroup by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,043 shares of the business services provider’s stock valued at $3,421,000 after buying an additional 776 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in ManpowerGroup by 5.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 24,312 shares of the business services provider’s stock worth $1,932,000 after purchasing an additional 1,168 shares in the last quarter. Barclays PLC boosted its position in ManpowerGroup by 174.0% during the fourth quarter. Barclays PLC now owns 78,703 shares of the business services provider’s stock worth $6,255,000 after purchasing an additional 49,975 shares in the last quarter. Vanguard Group Inc. boosted its position in ManpowerGroup by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,912,219 shares of the business services provider’s stock worth $549,314,000 after purchasing an additional 17,691 shares in the last quarter. Finally, Vident Advisory LLC boosted its position in ManpowerGroup by 3.9% during the fourth quarter. Vident Advisory LLC now owns 3,954 shares of the business services provider’s stock worth $314,000 after purchasing an additional 148 shares in the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

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.