ManpowerGroup (NYSE:MAN) issued its quarterly earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by $0.01, RTT News reports. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the prior year, the company earned $1.60 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. ManpowerGroup updated its Q3 guidance to $1.90-1.98 EPS.
Shares of ManpowerGroup (MAN) traded down 0.14% on Friday, hitting $106.66. The company had a trading volume of 421,859 shares. ManpowerGroup has a 12-month low of $67.30 and a 12-month high of $119.59. The company has a 50 day moving average of $110.90 and a 200-day moving average of $103.80. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 16.32 and a beta of 1.39.
MAN has been the topic of a number of recent analyst reports. BidaskClub lowered ManpowerGroup from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Tuesday, July 4th. Credit Suisse Group reissued a “neutral” rating and set a $111.00 price target (up previously from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Northcoast Research reissued a “neutral” rating on shares of ManpowerGroup in a research note on Monday, July 17th. Finally, BMO Capital Markets increased their price target on ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $102.71.
In other ManpowerGroup news, SVP Richard Buchband sold 1,250 shares of ManpowerGroup stock in a transaction on Monday, June 19th. The shares were sold at an average price of $109.00, for a total transaction of $136,250.00. Following the completion of the sale, the senior vice president now owns 3,884 shares of the company’s stock, valued at approximately $423,356. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ulice Payne, Jr. sold 2,100 shares of ManpowerGroup stock in a transaction on Friday, August 4th. The shares were sold at an average price of $107.94, for a total transaction of $226,674.00. Following the completion of the sale, the director now directly owns 11,136 shares of the company’s stock, valued at approximately $1,202,019.84. The disclosure for this sale can be found here. Insiders have sold a total of 124,108 shares of company stock valued at $13,165,550 in the last three months. Company insiders own 0.87% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in ManpowerGroup by 39.8% in the first quarter. Russell Investments Group Ltd. now owns 520,809 shares of the business services provider’s stock worth $53,432,000 after buying an additional 148,161 shares in the last quarter. Teachers Advisors LLC raised its position in ManpowerGroup by 4.1% in the first quarter. Teachers Advisors LLC now owns 222,883 shares of the business services provider’s stock worth $22,861,000 after buying an additional 8,833 shares in the last quarter. First Trust Advisors LP raised its position in ManpowerGroup by 0.4% in the first quarter. First Trust Advisors LP now owns 309,270 shares of the business services provider’s stock worth $31,722,000 after buying an additional 1,245 shares in the last quarter. Creative Planning raised its position in ManpowerGroup by 6.0% in the first quarter. Creative Planning now owns 5,964 shares of the business services provider’s stock worth $612,000 after buying an additional 335 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in ManpowerGroup during the first quarter worth $57,066,000. 93.95% of the stock is owned by institutional investors and hedge funds.
ManpowerGroup Company Profile
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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