ManpowerGroup Inc. (NYSE:MAN) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totalling 1,762,400 shares, a decrease of 16.5% from the June 30th total of 2,111,500 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average trading volume of 570,400 shares, the short-interest ratio is presently 3.1 days.
Shares of ManpowerGroup stock traded down $0.38 during midday trading on Thursday, hitting $83.46. The company had a trading volume of 404,263 shares, compared to its average volume of 575,652. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.46 and a current ratio of 1.46. The stock has a market capitalization of $5.02 billion, a P/E ratio of 9.33, a P/E/G ratio of 3.63 and a beta of 1.55. The company has a 50 day moving average of $91.13 and a 200 day moving average of $88.44. ManpowerGroup has a 52-week low of $61.57 and a 52-week high of $97.96.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Friday, July 19th. The business services provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.06. The company had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.41 billion. ManpowerGroup had a return on equity of 19.19% and a net margin of 2.34%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 EPS. Equities research analysts forecast that ManpowerGroup will post 7.63 EPS for the current year.
ManpowerGroup announced that its board has authorized a stock repurchase program on Friday, August 2nd that authorizes the company to repurchase 6,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Several research analysts have recently issued reports on MAN shares. ValuEngine raised ManpowerGroup from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Royal Bank of Canada decreased their target price on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on ManpowerGroup from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets increased their target price on ManpowerGroup to $93.00 and gave the stock a “market perform” rating in a research report on Monday, April 22nd. Finally, Bank of America decreased their target price on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $93.30.
Several institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its stake in ManpowerGroup by 144.4% during the 2nd quarter. Parallel Advisors LLC now owns 352 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 208 shares during the last quarter. CWM LLC boosted its stake in ManpowerGroup by 114.4% during the 2nd quarter. CWM LLC now owns 373 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 199 shares during the last quarter. Destination Wealth Management purchased a new stake in ManpowerGroup during the 2nd quarter valued at $58,000. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in ManpowerGroup during the 2nd quarter valued at $95,000. Finally, Machina Capital S.A.S. boosted its stake in ManpowerGroup by 273.5% during the 2nd quarter. Machina Capital S.A.S. now owns 1,042 shares of the business services provider’s stock valued at $101,000 after purchasing an additional 763 shares during the last quarter. Institutional investors own 91.24% 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 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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