Credit Suisse Group Lowers ManpowerGroup (NYSE:MAN) to Neutral

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ManpowerGroup (NYSE:MAN) was downgraded by analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $88.00 target price on the business services provider’s stock, down from their prior target price of $102.00. Credit Suisse Group’s price target suggests a potential downside of 2.38% from the stock’s previous close.

MAN has been the subject of a number of other research reports. ValuEngine upgraded ManpowerGroup from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. TheStreet raised shares of ManpowerGroup from a “c+” rating to a “b-” rating in a research report on Wednesday, February 20th. BMO Capital Markets raised their target price on shares of ManpowerGroup to $93.00 and gave the stock a “market perform” rating in a research report on Monday, April 22nd. Zacks Investment Research lowered shares of ManpowerGroup from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada assumed coverage on shares of ManpowerGroup in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $114.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. ManpowerGroup has an average rating of “Hold” and a consensus target price of $94.94.

NYSE:MAN traded down $2.38 during mid-day trading on Wednesday, reaching $90.15. 6,811 shares of the company’s stock traded hands, compared to its average volume of 584,445. ManpowerGroup has a 12-month low of $61.57 and a 12-month high of $97.26. The company has a market cap of $5.40 billion, a PE ratio of 10.07, a P/E/G ratio of 3.63 and a beta of 1.54. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.43 and a quick ratio of 1.43.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Thursday, April 18th. The business services provider reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.04. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $5 billion. ManpowerGroup had a return on equity of 20.08% and a net margin of 2.39%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 EPS. Analysts expect that ManpowerGroup will post 7.84 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. lifted its holdings in ManpowerGroup by 10.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 8,809 shares of the business services provider’s stock worth $571,000 after purchasing an additional 830 shares during the period. Rhumbline Advisers increased its holdings in shares of ManpowerGroup by 40.6% in the 4th quarter. Rhumbline Advisers now owns 162,400 shares of the business services provider’s stock valued at $10,524,000 after purchasing an additional 46,888 shares during the period. Dupont Capital Management Corp acquired a new position in ManpowerGroup in the fourth quarter worth approximately $417,000. Daiwa Securities Group Inc. increased its holdings in ManpowerGroup by 8.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,430 shares of the business services provider’s stock worth $157,000 after buying an additional 180 shares during the last quarter. Finally, LSV Asset Management boosted its position in ManpowerGroup by 5.5% during the fourth quarter. LSV Asset Management now owns 1,827,463 shares of the business services provider’s stock worth $118,419,000 after purchasing an additional 94,867 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

ManpowerGroup Company Profile

ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.

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Analyst Recommendations for ManpowerGroup (NYSE:MAN)

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