ManpowerGroup (NYSE:MAN) Updates Q2 Earnings Guidance

ManpowerGroup (NYSE:MAN) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.24-1.34 for the period, compared to the consensus earnings per share estimate of $1.23. ManpowerGroup also updated its Q2 2024 guidance to 1.240-1.340 EPS.

ManpowerGroup Stock Performance

ManpowerGroup stock opened at $72.30 on Thursday. The firm has a market capitalization of $3.50 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 0.60 and a beta of 1.54. The firm’s 50 day simple moving average is $73.26 and its 200 day simple moving average is $74.35. ManpowerGroup has a 1-year low of $67.35 and a 1-year high of $88.91. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Tuesday, January 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.26. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.57 billion. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. As a group, analysts expect that ManpowerGroup will post 5.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MAN shares. BNP Paribas reiterated an underperform rating and issued a $70.00 target price on shares of ManpowerGroup in a research report on Friday, January 5th. BMO Capital Markets decreased their target price on shares of ManpowerGroup from $86.00 to $85.00 and set a market perform rating on the stock in a research report on Thursday, February 1st. Truist Financial raised 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. StockNews.com lowered shares of ManpowerGroup from a buy rating to a hold rating in a report on Wednesday, January 31st. Finally, William Blair initiated coverage on shares of ManpowerGroup in a report on Monday, January 8th. They issued a market perform rating on the stock. Two 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. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $83.00.

Institutional Investors Weigh In On ManpowerGroup

A number of large investors have recently modified their holdings of MAN. Captrust Financial Advisors boosted its stake in shares of ManpowerGroup by 72.6% during the 1st quarter. Captrust Financial Advisors now owns 858 shares of the business services provider’s stock valued at $81,000 after purchasing an additional 361 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of ManpowerGroup during the 3rd quarter valued at about $97,000. Industrial Alliance Investment Management Inc. boosted its stake in shares of ManpowerGroup by 671.3% during the 4th quarter. Industrial Alliance Investment Management Inc. now owns 1,211 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 1,054 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of ManpowerGroup by 14.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,737 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 219 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of ManpowerGroup by 171.5% during the 1st quarter. Covestor Ltd now owns 1,857 shares of the business services provider’s stock valued at $174,000 after purchasing an additional 1,173 shares in the last quarter. Institutional investors own 98.03% of the company’s stock.

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.