ManpowerGroup (NYSE:MAN) Shares Gap Up Following Better-Than-Expected Earnings

ManpowerGroup Inc. (NYSE:MAN)’s share price gapped up prior to trading on Thursday following a stronger than expected earnings report. 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 changing hands.

The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the previous year, the business earned $1.61 earnings per share. The company’s revenue was down 7.3% on a year-over-year basis.

Analyst Ratings Changes

A number of analysts have weighed in on MAN shares. JPMorgan Chase & Co. boosted their target price on shares of ManpowerGroup from $82.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com cut shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Truist Financial boosted their target price on shares of ManpowerGroup from $75.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. BNP Paribas reaffirmed an “underperform” rating and set a $70.00 target price on shares of ManpowerGroup in a research note on Friday, January 5th. Finally, BMO Capital Markets reduced their price objective on shares of ManpowerGroup from $86.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $83.13.

Institutional Trading of ManpowerGroup

Institutional investors have recently modified their holdings of the business. Uncommon Cents Investing LLC boosted its position in ManpowerGroup by 3.5% during the first quarter. Uncommon Cents Investing LLC now owns 20,180 shares of the business services provider’s stock valued at $1,567,000 after acquiring an additional 685 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of ManpowerGroup by 2.6% during the first quarter. State of Michigan Retirement System now owns 11,963 shares of the business services provider’s stock valued at $929,000 after purchasing an additional 300 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of ManpowerGroup by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 149,375 shares of the business services provider’s stock valued at $11,597,000 after purchasing an additional 15,438 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of ManpowerGroup by 25.6% during the first quarter. Hexagon Capital Partners LLC now owns 1,364 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 278 shares during the period. Finally, ARGA Investment Management LP raised its holdings in shares of ManpowerGroup by 22.6% during the first quarter. ARGA Investment Management LP now owns 48,396 shares of the business services provider’s stock valued at $3,757,000 after purchasing an additional 8,916 shares during the period. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Stock Up 1.1 %

The firm’s fifty day moving average price is $73.32 and its two-hundred day moving average price is $74.37. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 44.81, 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.

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.