ManpowerGroup (NYSE:MAN) Updates Q2 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MAN shares. William Blair began coverage on shares of ManpowerGroup in a research note on Monday, January 8th. They set a market perform rating on the stock. BNP Paribas reissued an underperform rating and issued a $70.00 price target on shares of ManpowerGroup in a report on Friday, January 5th. JPMorgan Chase & Co. raised their price objective on ManpowerGroup from $82.00 to $84.00 and gave the company a neutral rating in a research note on Friday. StockNews.com downgraded ManpowerGroup from a buy rating to a hold rating in a report on Wednesday, January 31st. Finally, UBS Group reduced their target price on ManpowerGroup from $81.00 to $80.00 and set a neutral rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $83.13.

ManpowerGroup Trading Up 1.1 %

NYSE:MAN opened at $74.84 on Friday. The company has a market cap 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 business’s 50 day moving average is $73.32 and its two-hundred day moving average is $74.37. The company has a quick ratio of 1.16, a current ratio of 1.17 and a debt-to-equity ratio of 0.44. ManpowerGroup has a 52 week low of $67.35 and a 52 week high of $88.91.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Thursday, April 18th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.44 billion. ManpowerGroup had a return on equity of 11.45% and a net margin of 0.27%. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period last year, the business posted $1.61 earnings per share. On average, analysts predict that ManpowerGroup will post 5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ManpowerGroup by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,912,219 shares of the business services provider’s stock valued at $549,314,000 after purchasing an additional 17,691 shares during the period. State Street Corp raised its position in shares of ManpowerGroup by 4.1% in the first quarter. State Street Corp now owns 1,990,548 shares of the business services provider’s stock valued at $164,278,000 after purchasing an additional 78,884 shares during the period. Invesco Ltd. raised its holdings in ManpowerGroup by 67.2% in the 1st quarter. Invesco Ltd. now owns 1,839,997 shares of the business services provider’s stock worth $172,812,000 after acquiring an additional 739,380 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of ManpowerGroup by 8.8% during the 1st quarter. Thrivent Financial for Lutherans now owns 944,162 shares of the business services provider’s stock worth $77,921,000 after purchasing an additional 76,080 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of ManpowerGroup by 2.6% in the first quarter. Geode Capital Management LLC now owns 767,551 shares of the business services provider’s stock worth $64,099,000 after acquiring an additional 19,090 shares during the last quarter. 98.03% of the stock is owned by institutional investors and hedge funds.

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.