ManpowerGroup (NYSE:MAN) Shares Gap Up on Earnings Beat

ManpowerGroup Inc. (NYSE:MAN) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $43.10, but opened at $47.19. ManpowerGroup shares last traded at $43.52, with a volume of 601,139 shares changing hands.

The business services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. ManpowerGroup had a net margin of 0.63% and a return on equity of 9.10%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the firm earned $1.30 EPS. The business’s revenue for the quarter was down .5% on a year-over-year basis.

ManpowerGroup Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.72 dividend. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, June 2nd. ManpowerGroup’s dividend payout ratio (DPR) is currently 62.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Truist Financial lowered their price objective on shares of ManpowerGroup from $55.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Wall Street Zen raised shares of ManpowerGroup from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. UBS Group boosted their target price on shares of ManpowerGroup from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price on shares of ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Finally, Barclays raised shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $55.00 to $50.00 in a research report on Thursday, April 10th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, ManpowerGroup currently has an average rating of “Hold” and a consensus price target of $48.20.

Institutional Trading of ManpowerGroup

A number of institutional investors and hedge funds have recently modified their holdings of the company. SummerHaven Investment Management LLC lifted its stake in shares of ManpowerGroup by 3.0% in the second quarter. SummerHaven Investment Management LLC now owns 12,003 shares of the business services provider’s stock worth $485,000 after buying an additional 346 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of ManpowerGroup by 700.1% in the second quarter. State of Alaska Department of Revenue now owns 43,205 shares of the business services provider’s stock worth $1,745,000 after buying an additional 37,805 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of ManpowerGroup in the second quarter worth $268,000. Acadian Asset Management LLC lifted its stake in shares of ManpowerGroup by 601.5% in the first quarter. Acadian Asset Management LLC now owns 4,097 shares of the business services provider’s stock worth $237,000 after buying an additional 3,513 shares during the last quarter. Finally, Focus Partners Wealth acquired a new position in ManpowerGroup during the 1st quarter valued at $348,000. 98.03% of the stock is currently owned by institutional investors and hedge funds.

ManpowerGroup Trading Up 3.1%

The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of 19.32 and a beta of 1.07. The company’s 50 day moving average is $42.13 and its 200 day moving average is $50.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.12 and a current ratio of 1.12.

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.