ManpowerGroup (NYSE:MAN) Releases Q2 Earnings Guidance

ManpowerGroup (NYSE:MAN) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.24-1.34 for the period, compared to the consensus estimate of $1.23. ManpowerGroup also updated its Q2 2024 guidance to 1.240-1.340 EPS.

ManpowerGroup Stock Performance

MAN opened at $74.03 on Friday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 44.33, a PEG ratio of 0.60 and a beta of 1.54. The company has a fifty day moving average of $73.28 and a 200 day moving average of $74.35. ManpowerGroup has a fifty-two week low of $67.35 and a fifty-two week high of $88.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.16.

ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, April 18th. The business services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.04. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.44 billion. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. ManpowerGroup’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period last year, the company posted $1.61 earnings per share. As a group, sell-side analysts forecast that ManpowerGroup will post 5.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MAN has been the subject of several research analyst reports. BMO Capital Markets cut their target price on shares of ManpowerGroup from $86.00 to $85.00 and set a market perform rating for the company in a research note on Thursday, February 1st. Truist Financial lifted their price objective on shares of ManpowerGroup from $75.00 to $78.00 and gave the stock a hold rating in a research note on Wednesday, January 31st. BNP Paribas reissued an underperform rating and issued a $70.00 price objective on shares of ManpowerGroup in a research note on Friday, January 5th. StockNews.com cut shares of ManpowerGroup from a buy rating to a hold rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ManpowerGroup from $82.00 to $84.00 and gave the stock a neutral rating in a research note on Friday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $83.13.

Hedge Funds Weigh In On ManpowerGroup

A number of large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake 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 period. Public Employees Retirement System of Ohio boosted its stake 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 period. Barclays PLC boosted its stake 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 period. Vanguard Group Inc. boosted its stake 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 period. Finally, Vident Advisory LLC boosted its stake 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 period. 98.03% of the stock is owned by hedge funds and other institutional investors.

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.