ManpowerGroup (NYSE:MAN) Issues Q2 2024 Earnings Guidance

ManpowerGroup (NYSE:MAN) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.240-1.340 for the period, compared to the consensus EPS estimate of 1.220. The company issued revenue guidance of -. ManpowerGroup also updated its Q2 guidance to $1.24-1.34 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MAN. William Blair began coverage on shares of ManpowerGroup in a research report on Monday, January 8th. They set a market perform rating on the stock. BMO Capital Markets cut their price objective 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. StockNews.com cut shares of ManpowerGroup from a buy rating to a hold rating in a research report on Wednesday, January 31st. BNP Paribas reaffirmed an underperform rating and issued a $70.00 price objective on shares of ManpowerGroup in a research report on Friday, January 5th. Finally, Truist Financial boosted their price objective on shares of ManpowerGroup from $75.00 to $78.00 and gave the company a hold rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $83.13.

ManpowerGroup Stock Up 1.1 %

ManpowerGroup stock opened at $74.84 on Friday. ManpowerGroup has a fifty-two week low of $67.35 and a fifty-two week high of $88.91. The firm has a market capitalization of $3.62 billion, a PE ratio of 77.16, a P/E/G ratio of 0.63 and a beta of 1.54. The company’s 50-day moving average is $73.32 and its 200-day moving average is $74.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.17 and a quick ratio of 1.16.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, April 18th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. ManpowerGroup had a net margin of 0.27% and a return on equity of 11.45%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the business earned $1.61 EPS. ManpowerGroup’s quarterly revenue was down 7.3% on a year-over-year basis. Sell-side analysts anticipate that ManpowerGroup will post 5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. bought a new position in shares of ManpowerGroup during the first quarter worth approximately $907,000. Cetera Advisor Networks LLC bought a new position in shares of ManpowerGroup during the first quarter worth approximately $267,000. Bank of Montreal Can increased its holdings in shares of 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 purchasing an additional 10,894 shares during the period. MetLife Investment Management LLC increased its holdings in shares of 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 purchasing an additional 8,794 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of 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 purchasing an additional 1,895 shares during the period. Institutional investors and hedge funds own 98.03% of the company’s stock.

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.