ManpowerGroup Inc. (NYSE:MAN) Given Average Recommendation of “Hold” by Analysts

ManpowerGroup Inc. (NYSE:MAN) has been given an average rating of “Hold” by the five analysts that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $50.60.

A number of analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. Wall Street Zen lowered shares of ManpowerGroup from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lowered their price objective on shares of ManpowerGroup from $65.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. UBS Group lowered their price objective on shares of ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Finally, Truist Financial lowered their price objective on shares of ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, April 21st.

ManpowerGroup Stock Down 3.2%

Shares of MAN opened at $38.51 on Friday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 16.74 and a beta of 1.08. ManpowerGroup has a 12-month low of $37.99 and a 12-month high of $78.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $42.26 and a 200-day moving average price of $52.33.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $698.30 million for the quarter, compared to analysts’ expectations of $3.94 billion. ManpowerGroup had a net margin of 0.63% and a return on equity of 9.10%. During the same period in the prior year, the firm posted $0.94 earnings per share. Equities research analysts expect that ManpowerGroup will post 4.23 earnings per share for the current year.

ManpowerGroup Cuts Dividend

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

Hedge Funds Weigh In On ManpowerGroup

A number of large investors have recently added to or reduced their stakes in MAN. AQR Capital Management LLC raised its holdings in ManpowerGroup by 45.8% in the fourth quarter. AQR Capital Management LLC now owns 2,262,265 shares of the business services provider’s stock worth $130,125,000 after purchasing an additional 711,043 shares in the last quarter. Invesco Ltd. raised its holdings in ManpowerGroup by 36.1% in the first quarter. Invesco Ltd. now owns 2,608,221 shares of the business services provider’s stock worth $150,964,000 after purchasing an additional 691,678 shares in the last quarter. ARGA Investment Management LP raised its holdings in ManpowerGroup by 539.8% in the first quarter. ARGA Investment Management LP now owns 587,048 shares of the business services provider’s stock worth $33,978,000 after purchasing an additional 495,296 shares in the last quarter. Norges Bank bought a new position in ManpowerGroup in the fourth quarter worth about $27,706,000. Finally, Millennium Management LLC raised its holdings in ManpowerGroup by 137.0% in the fourth quarter. Millennium Management LLC now owns 811,595 shares of the business services provider’s stock worth $46,845,000 after purchasing an additional 469,184 shares in the last quarter. 98.03% of the stock is currently 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.