ManpowerGroup (NYSE:MAN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday, September 13th.
According to Zacks, “ManpowerGroup’s brand value and strong global network provide a competitive advantage and reinforces its dominant position in the market. The company is continuously making significant investments to expand permanent recruitment solutions offerings to capitalize on the future revenue-generating opportunities. Through its cost recalibration and simplification plan, the company has fine-tuned its network and augmented its global delivery model. ManpowerGroup has also outperformed the industry year to date. However, revenues are likely to be affected by the Brexit referendum as nearly two-thirds of the total revenue come from Europe and the U.K. The employment services industry is also highly competitive with low barriers to entry and ManpowerGroup faces stiff competition from other established players in both domestic and international markets that limits its profitability.”
Several other research firms have also recently issued reports on MAN. BMO Capital Markets reaffirmed a “buy” rating and issued a $124.00 price target on shares of ManpowerGroup in a report on Friday, September 1st. BidaskClub lowered shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Credit Suisse Group reiterated a “neutral” rating and set a $111.00 target price (up previously from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $111.00 target price (up previously from $104.00) on shares of ManpowerGroup in a research note on Friday, July 14th. Finally, Northcoast Research restated a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. ManpowerGroup has a consensus rating of “Hold” and an average price target of $109.60.
ManpowerGroup (NYSE:MAN) opened at 115.86 on Wednesday. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 17.72 and a beta of 1.38. ManpowerGroup has a 12 month low of $68.03 and a 12 month high of $119.59. The stock’s 50 day moving average price is $109.94 and its 200-day moving average price is $106.06.
ManpowerGroup (NYSE:MAN) last posted its earnings results on Monday, July 24th. The business services provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.01). ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the firm posted $1.60 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts expect that ManpowerGroup will post $6.75 EPS for the current year.
In other ManpowerGroup news, EVP Sriram Chandrashekar sold 19,912 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $105.39, for a total transaction of $2,098,525.68. Following the transaction, the executive vice president now owns 1,659 shares in the company, valued at $174,842.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ulice Payne, Jr. sold 2,100 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $107.94, for a total value of $226,674.00. Following the completion of the sale, the director now directly owns 11,136 shares of the company’s stock, valued at $1,202,019.84. The disclosure for this sale can be found here. Insiders sold 122,858 shares of company stock valued at $13,029,300 over the last three months. 0.87% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of MAN. BlackRock Inc. lifted its position in ManpowerGroup by 0.3% in the second quarter. BlackRock Inc. now owns 8,214,114 shares of the business services provider’s stock worth $917,106,000 after purchasing an additional 28,442 shares during the period. Vanguard Group Inc. lifted its position in ManpowerGroup by 4.4% in the second quarter. Vanguard Group Inc. now owns 6,286,080 shares of the business services provider’s stock worth $701,840,000 after purchasing an additional 267,064 shares during the period. Boston Partners lifted its position in ManpowerGroup by 3.3% in the second quarter. Boston Partners now owns 3,697,608 shares of the business services provider’s stock worth $412,838,000 after purchasing an additional 119,340 shares during the period. State Street Corp lifted its position in ManpowerGroup by 0.6% in the first quarter. State Street Corp now owns 2,673,581 shares of the business services provider’s stock worth $274,247,000 after purchasing an additional 16,876 shares during the period. Finally, AQR Capital Management LLC lifted its position in ManpowerGroup by 21.1% in the first quarter. AQR Capital Management LLC now owns 1,951,173 shares of the business services provider’s stock worth $200,132,000 after purchasing an additional 339,539 shares during the period. 93.71% of the stock is owned by institutional investors.
ManpowerGroup Company Profile
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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