ManpowerGroup (NYSE:MAN) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

ManpowerGroup (NYSE:MAN) released its quarterly earnings data on Thursday. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04, Briefing.com reports. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.44 billion. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 earnings per share. ManpowerGroup updated its Q2 2024 guidance to 1.240-1.340 EPS and its Q2 guidance to $1.24-1.34 EPS.

ManpowerGroup Trading Up 1.0 %

ManpowerGroup stock opened at $74.75 on Friday. The firm’s 50-day moving average is $73.28 and its 200-day moving average is $74.35. 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 has a 1 year low of $67.35 and a 1 year high of $88.91. The company has a market cap of $3.62 billion, a P/E ratio of 44.33, a PEG ratio of 0.60 and a beta of 1.54.

Institutional Trading of ManpowerGroup

Large investors have recently modified their holdings of the company. Comerica Bank acquired a new stake in shares of ManpowerGroup in the 2nd quarter worth about $470,000. Captrust Financial Advisors increased its holdings in shares of ManpowerGroup by 72.6% in the 1st quarter. Captrust Financial Advisors now owns 858 shares of the business services provider’s stock worth $81,000 after acquiring an additional 361 shares during the period. Industrial Alliance Investment Management Inc. increased its holdings in shares of ManpowerGroup by 671.3% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 1,211 shares of the business services provider’s stock worth $101,000 after acquiring an additional 1,054 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of ManpowerGroup in the 3rd quarter worth about $97,000. Finally, Lazard Asset Management LLC increased its holdings in shares of ManpowerGroup by 14.4% in the 2nd quarter. Lazard Asset Management LLC now owns 1,737 shares of the business services provider’s stock worth $137,000 after acquiring an additional 219 shares during the period. Institutional investors and hedge funds own 98.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MAN shares. BNP Paribas restated an “underperform” rating and issued a $70.00 target price on shares of ManpowerGroup in a research note on Friday, January 5th. BMO Capital Markets decreased 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. JPMorgan Chase & Co. upped their target price on shares of ManpowerGroup from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday. William Blair assumed coverage on shares of ManpowerGroup in a research note on Monday, January 8th. They set a “market perform” rating on the stock. Finally, StockNews.com downgraded shares of ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.13.

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.