ManpowerGroup (NYSE:MAN) Shares Gap Up to $70.07

ManpowerGroup Inc. (NYSE:MAN) gapped up prior to trading on Thursday . The stock had previously closed at $70.07, but opened at $75.92. ManpowerGroup shares last traded at $74.45, with a volume of 74,249 shares.

Wall Street Analysts Forecast Growth

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

ManpowerGroup Stock Up 6.5 %

The stock has a market capitalization of $3.61 billion, a PE ratio of 44.55, a price-to-earnings-growth ratio of 0.60 and a beta of 1.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.16 and a quick ratio of 1.16. The business’s fifty day moving average price is $73.26 and its two-hundred day moving average price is $74.35.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Tuesday, January 30th. The business services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.19 by $0.26. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the company earned $2.08 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. On average, equities research analysts forecast that ManpowerGroup Inc. will post 5.01 EPS for the current fiscal year.

Institutional Investors Weigh In On ManpowerGroup

Hedge funds have recently added to or reduced their stakes in the business. Schroder Investment Management Group acquired a new position in shares of ManpowerGroup in the third quarter worth about $94,417,000. Invesco Ltd. raised its position in shares of ManpowerGroup by 67.2% in the first quarter. Invesco Ltd. now owns 1,839,997 shares of the business services provider’s stock worth $172,812,000 after acquiring an additional 739,380 shares during the period. Norges Bank acquired a new position in shares of ManpowerGroup in the fourth quarter worth about $44,057,000. Victory Capital Management Inc. raised its position in shares of ManpowerGroup by 11.5% in the third quarter. Victory Capital Management Inc. now owns 3,622,221 shares of the business services provider’s stock worth $265,581,000 after acquiring an additional 373,473 shares during the period. Finally, Millennium Management LLC raised its position in shares of ManpowerGroup by 816.4% in the second quarter. Millennium Management LLC now owns 293,212 shares of the business services provider’s stock worth $22,404,000 after acquiring an additional 261,217 shares during the period. 98.03% of the stock is 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.