ManpowerGroup (NYSE:MAN) Announces Quarterly Earnings Results

ManpowerGroup (NYSE:MAN) announced its earnings results on Thursday. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04, Briefing.com reports. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.44 billion. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. ManpowerGroup updated its Q2 2024 guidance to 1.240-1.340 EPS and its Q2 guidance to $1.24-1.34 EPS.

ManpowerGroup Price Performance

NYSE MAN opened at $74.03 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.44. ManpowerGroup has a 12-month low of $67.35 and a 12-month high of $88.91. The company has a market capitalization of $3.58 billion, a PE ratio of 44.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.54. The firm’s 50 day moving average is $73.28 and its 200-day moving average is $74.35.

Analyst Ratings Changes

Several analysts have commented on MAN shares. William Blair started coverage on shares of ManpowerGroup in a report on Monday, January 8th. They set a “market perform” rating on the stock. StockNews.com downgraded shares of ManpowerGroup from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. BMO Capital Markets dropped their target price 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. JPMorgan Chase & Co. raised their target price on shares of ManpowerGroup from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday. Finally, BNP Paribas restated an “underperform” rating and set a $70.00 target price on shares of ManpowerGroup in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.13.

Hedge Funds Weigh In On ManpowerGroup

Several hedge funds and other institutional investors have recently made changes to their positions in MAN. Raymond James Financial Services Advisors Inc. acquired a new position in ManpowerGroup during the first quarter worth $907,000. Cetera Advisor Networks LLC acquired a new position in ManpowerGroup during the first quarter worth $267,000. Bank of Montreal Can increased its holdings in ManpowerGroup by 104.8% during the first quarter. Bank of Montreal Can now owns 21,293 shares of the business services provider’s stock worth $2,143,000 after buying an additional 10,894 shares during the last quarter. MetLife Investment Management LLC increased its holdings in ManpowerGroup by 33.5% during the first quarter. MetLife Investment Management LLC now owns 35,079 shares of the business services provider’s stock worth $3,295,000 after buying an additional 8,794 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in ManpowerGroup by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,878 shares of the business services provider’s stock worth $1,867,000 after buying an additional 1,895 shares during the last quarter. 98.03% of the stock is owned by institutional investors.

About ManpowerGroup

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.