ManpowerGroup (NYSE:MAN) Stock Price Up 7.1% Following Better-Than-Expected Earnings

ManpowerGroup Inc. (NYSE:MAN)’s share price rose 7.1% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $32.23 and last traded at $31.02. Approximately 415,107 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 896,064 shares. The stock had previously closed at $28.96.

The business services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.83 by $0.09. ManpowerGroup had a positive return on equity of 7.02% and a negative net margin of 0.12%.The company had revenue of $4.71 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the business earned $1.02 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis.

ManpowerGroup Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.72 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a yield of 505.0%. ManpowerGroup’s payout ratio is currently -306.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MAN. Barclays dropped their target price on shares of ManpowerGroup from $50.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, October 17th. BMO Capital Markets raised shares of ManpowerGroup from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Thursday, December 18th. UBS Group dropped their price target on shares of ManpowerGroup from $39.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, January 16th. Truist Financial decreased their price objective on ManpowerGroup from $48.00 to $44.00 and set a “hold” rating for the company in a report on Monday, October 13th. Finally, The Goldman Sachs Group reduced their price target on ManpowerGroup from $33.00 to $29.00 and set a “sell” rating on the stock in a research report on Friday, November 21st. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $38.83.

Institutional Investors Weigh In On ManpowerGroup

A number of large investors have recently bought and sold shares of MAN. Y Intercept Hong Kong Ltd raised its stake in shares of ManpowerGroup by 119.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 24,997 shares of the business services provider’s stock worth $1,010,000 after purchasing an additional 13,597 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ManpowerGroup in the second quarter valued at approximately $793,000. AXQ Capital LP bought a new position in ManpowerGroup in the 2nd quarter valued at $440,000. Envestnet Asset Management Inc. grew its holdings in ManpowerGroup by 43.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,230 shares of the business services provider’s stock worth $817,000 after acquiring an additional 6,173 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in ManpowerGroup by 48.2% in the 2nd quarter. Schroder Investment Management Group now owns 1,778,578 shares of the business services provider’s stock worth $71,855,000 after purchasing an additional 578,843 shares in the last quarter. 98.03% of the stock is currently owned by institutional investors and hedge funds.

ManpowerGroup Trading Up 6.8%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.43 billion, a PE ratio of -66.00 and a beta of 0.88. The stock’s fifty day simple moving average is $29.43 and its two-hundred day simple moving average is $34.91.

About ManpowerGroup

ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company’s service offerings are organized into four principal brands.