TheStreet lowered shares of ManpowerGroup (NYSE:MAN) from a b- rating to a c+ rating in a research note released on Tuesday morning.
Other equities analysts have also recently issued reports about the company. Barclays cut their price target on ManpowerGroup from $115.00 to $90.00 and set a $86.63 rating on the stock in a report on Wednesday, July 18th. Nomura restated a buy rating and set a $130.00 price target on shares of ManpowerGroup in a report on Sunday, July 22nd. Argus cut their price target on ManpowerGroup from $135.00 to $95.00 and set a buy rating on the stock in a report on Monday, October 22nd. SunTrust Banks restated a hold rating and set a $100.00 price target on shares of ManpowerGroup in a report on Monday, July 23rd. Finally, Zacks Investment Research upgraded ManpowerGroup from a sell rating to a hold rating in a report on Wednesday, September 19th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $99.85.
ManpowerGroup stock opened at $79.27 on Tuesday. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 11.26, a price-to-earnings-growth ratio of 1.02 and a beta of 1.19. ManpowerGroup has a 52-week low of $71.79 and a 52-week high of $136.93. The company has a current ratio of 1.47, a quick ratio of 1.48 and a debt-to-equity ratio of 0.37.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Friday, October 19th. The business services provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.64 billion. ManpowerGroup had a return on equity of 20.02% and a net margin of 2.76%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.04 EPS. As a group, sell-side analysts forecast that ManpowerGroup will post 8.69 EPS for the current year.
ManpowerGroup declared that its Board of Directors has initiated a share repurchase program on Friday, August 3rd that permits the company to repurchase 6,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Mara E. Swan sold 11,192 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $93.77, for a total value of $1,049,473.84. Following the transaction, the executive vice president now directly owns 13,493 shares in the company, valued at approximately $1,265,238.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 1,350 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $89.43, for a total value of $120,730.50. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc lifted its holdings in shares of ManpowerGroup by 148.6% in the 3rd quarter. IFP Advisors Inc now owns 1,310 shares of the business services provider’s stock worth $113,000 after purchasing an additional 783 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in ManpowerGroup by 213.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,643 shares of the business services provider’s stock valued at $141,000 after buying an additional 1,118 shares during the last quarter. Cerebellum GP LLC purchased a new stake in ManpowerGroup in the 2nd quarter valued at $170,000. Atria Investments LLC purchased a new stake in ManpowerGroup in the 3rd quarter valued at $214,000. Finally, Verity Asset Management Inc. purchased a new stake in ManpowerGroup in the 2nd quarter valued at $243,000. Institutional investors own 91.72% of the company’s stock.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.
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