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.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MAN. BNP Paribas restated an underperform rating and issued a $70.00 target price on shares of ManpowerGroup in a research note on Friday, January 5th. William Blair began coverage on ManpowerGroup in a research note on Monday, January 8th. They issued a market perform rating on the stock. StockNews.com downgraded ManpowerGroup from a buy rating to a hold rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. boosted their target price on ManpowerGroup from $82.00 to $84.00 and gave the company a neutral rating in a research note on Friday. Finally, Truist Financial boosted their target price on ManpowerGroup from $75.00 to $78.00 and gave the company a hold rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ManpowerGroup has an average rating of Hold and an average target price of $83.13.

ManpowerGroup Price Performance

Shares of NYSE:MAN 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 business has a 50-day moving average of $73.32 and a two-hundred day moving average of $74.38. The stock has a market capitalization of $3.62 billion, a P/E ratio of 77.16, a P/E/G ratio of 0.63 and a beta of 1.54. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. ManpowerGroup had a return on equity of 11.45% and a net margin of 0.27%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. On average, equities research analysts predict that ManpowerGroup will post 5 EPS for the current fiscal year.

Hedge Funds Weigh In On ManpowerGroup

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of ManpowerGroup by 1.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 43,043 shares of the business services provider’s stock worth $3,421,000 after purchasing an additional 776 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of ManpowerGroup by 5.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 24,312 shares of the business services provider’s stock worth $1,932,000 after purchasing an additional 1,168 shares during the last quarter. Barclays PLC lifted its position in shares of ManpowerGroup by 174.0% during the 4th quarter. Barclays PLC now owns 78,703 shares of the business services provider’s stock worth $6,255,000 after purchasing an additional 49,975 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of ManpowerGroup by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,912,219 shares of the business services provider’s stock worth $549,314,000 after purchasing an additional 17,691 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in shares of ManpowerGroup by 3.9% during the 4th quarter. Vident Advisory LLC now owns 3,954 shares of the business services provider’s stock worth $314,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds 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.