ManpowerGroup (MAN) Coverage Initiated by Analysts at Credit Suisse Group

Analysts at Credit Suisse Group began coverage on shares of ManpowerGroup (NYSE:MAN) in a research report issued to clients and investors on Friday. The brokerage set an “outperform” rating and a $115.00 price target on the business services provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 28.12% from the company’s previous close.

Other equities analysts also recently issued reports about the company. ValuEngine upgraded ManpowerGroup from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 26th. Nomura restated a “buy” rating and issued a $130.00 price objective on shares of ManpowerGroup in a report on Sunday, July 22nd. Zacks Investment Research downgraded ManpowerGroup from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. BMO Capital Markets cut their price objective on ManpowerGroup from $136.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, April 20th. Finally, Northcoast Research restated a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $113.70.

NYSE MAN traded down $0.87 during trading hours on Friday, hitting $89.76. 5,542 shares of the company’s stock were exchanged, compared to its average volume of 1,104,065. ManpowerGroup has a 12-month low of $81.85 and a 12-month high of $136.93. The company has a market capitalization of $5.95 billion, a PE ratio of 12.75 and a beta of 1.23. The company has a current ratio of 1.48, a quick ratio of 1.33 and a debt-to-equity ratio of 0.37.

ManpowerGroup (NYSE:MAN) last released its earnings results on Friday, July 20th. The business services provider reported $2.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.35. ManpowerGroup had a return on equity of 19.37% and a net margin of 2.67%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the prior year, the business posted $1.72 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities analysts predict that ManpowerGroup will post 8.94 EPS for the current year.

ManpowerGroup announced that its Board of Directors has approved a stock repurchase plan on Friday, August 3rd that authorizes the company to buyback 6,000,000 outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Several large investors have recently made changes to their positions in the stock. Frontier Investment Mgmt Co. purchased a new stake in shares of ManpowerGroup during the 2nd quarter valued at about $258,000. BlackRock Inc. raised its holdings in shares of ManpowerGroup by 6.5% during the 2nd quarter. BlackRock Inc. now owns 8,070,128 shares of the business services provider’s stock valued at $694,518,000 after buying an additional 491,423 shares during the period. Cadence Capital Management LLC purchased a new stake in shares of ManpowerGroup during the 2nd quarter valued at about $369,000. Stanley Laman Group Ltd. raised its holdings in shares of ManpowerGroup by 12.0% during the 2nd quarter. Stanley Laman Group Ltd. now owns 6,742 shares of the business services provider’s stock valued at $580,000 after buying an additional 724 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of ManpowerGroup by 266.9% during the 2nd quarter. GSA Capital Partners LLP now owns 70,310 shares of the business services provider’s stock valued at $6,051,000 after buying an additional 51,147 shares during the period. Institutional investors and hedge funds own 91.50% of the company’s stock.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.

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