BMO Capital Markets restated their outperform rating on shares of ManpowerGroup Inc. (NYSE:MAN) in a research report report published on Tuesday. BMO Capital Markets currently has a $81.00 price target on the stock.
“We are updating our estimates above consensus and the midpoint of MTN’s guidance range and reiterating our Buy rating: (1) near- term momentum (season pass sales, strong balance sheet and strong FCF); (2) we are positive on the Whistler Blackcomb (WB, Not Rated) acquisition that remains on track to close this Fall; (3) multi- year growth opportunity. MTN reported a solid quarter with revenues ahead and adj. EBITDA in-line with consensus.”,” the firm’s analyst commented.
MAN has been the subject of several other reports. Bank of America Corp. reaffirmed a buy rating on shares of ManpowerGroup in a report on Friday, June 10th. Avondale Partners cut ManpowerGroup from an outperform rating to a market perform rating and lifted their price objective for the stock from $74.00 to $96.00 in a report on Monday, June 27th. Credit Suisse Group AG cut ManpowerGroup from an outperform rating to a neutral rating and cut their price target for the stock from $88.00 to $73.00 in a report on Monday, June 27th. Deutsche Bank AG started coverage on ManpowerGroup in a report on Wednesday, August 17th. They issued a hold rating and a $77.00 price target for the company. Finally, Zacks Investment Research raised ManpowerGroup from a strong sell rating to a hold rating in a report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $82.83.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Thursday, July 21st. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.08. The firm earned $5 billion during the quarter, compared to analysts’ expectations of $5.06 billion. ManpowerGroup had a return on equity of 17.19% and a net margin of 2.23%. ManpowerGroup’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 earnings per share.
In other news, EVP Handel Michael J. Van sold 31,855 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $69.77, for a total value of $2,222,523.35. Following the completion of the sale, the executive vice president now owns 31,378 shares of the company’s stock, valued at $2,189,243.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Handel Michael J. Van sold 57,348 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $70.13, for a total value of $4,021,815.24. Following the completion of the sale, the executive vice president now directly owns 40,931 shares of the company’s stock, valued at approximately $2,870,491.03. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Several large investors have recently modified their holdings of the company. Macquarie Group Ltd. increased its stake in shares of ManpowerGroup by 0.3% in the second quarter. Macquarie Group Ltd. now owns 94,900 shares of the company’s stock valued at $6,106,000 after buying an additional 300 shares during the last quarter. Nomura Holdings Inc. increased its stake in shares of ManpowerGroup by 72.2% in the second quarter. Nomura Holdings Inc. now owns 27,774 shares of the company’s stock valued at $1,808,000 after buying an additional 11,645 shares during the last quarter. Mason Street Advisors LLC bought a new stake in shares of ManpowerGroup during the second quarter valued at $2,098,000. Royal Bank of Canada increased its stake in shares of ManpowerGroup by 725.5% in the second quarter. Royal Bank of Canada now owns 411,274 shares of the company’s stock valued at $26,462,000 after buying an additional 361,452 shares during the last quarter. Finally, Calvert Investment Management Inc. increased its stake in shares of ManpowerGroup by 10.2% in the second quarter. Calvert Investment Management Inc. now owns 6,092 shares of the company’s stock valued at $392,000 after buying an additional 564 shares during the last quarter. 95.10% 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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