Deutsche Bank Reiterates “Hold” Rating for ManpowerGroup (MAN)
ManpowerGroup (NYSE:MAN)‘s stock had its “hold” rating reiterated by analysts at Deutsche Bank in a research report issued to clients and investors on Friday, AnalystRatings.NET reports. They currently have a $85.00 price objective on the stock, up from their previous price objective of $74.00. Deutsche Bank’s price objective points to a potential upside of 13.55% from the stock’s previous close.
The analysts wrote, “While we assume that Buy-side expectations are ahead of the Sell-side, we think the significant rise to consensus EPS over the coming six months will be positive for the share prices of both MAN and TBI. We believe both stocks can hold their mid-cycle multiples for at least another year. We primarily use midcycle multiples and ’14E EPS (ex amort) to arrive at our updated target prices. See pages 35 to 39 for our complete valuation and risk. Key risks for the staffing stocks include a US Gov’t shutdown or debt ceiling issue which causes real harm to the US economy, global macro data that weakens instead of improves, no expansion in gross margins as expected, and higher cost growth than expected.”
Shares of ManpowerGroup (NYSE:MAN) traded up 2.97% during mid-day trading on Friday, hitting $77.08. The stock had a trading volume of 334,594 shares. ManpowerGroup has a 1-year low of $34.87 and a 1-year high of $77.31. The stock has a 50-day moving average of $71.46 and a 200-day moving average of $61.59. The company has a market cap of $6.035 billion and a price-to-earnings ratio of 28.41.
ManpowerGroup (NYSE:MAN) last released its earnings data on Friday, July 19th. The company reported $0.88 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.90 by $0.02. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $5.00 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts predict that ManpowerGroup will post $3.90 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group initiated coverage on shares of ManpowerGroup in a research note to investors on Friday. They set a “buy” rating and a $74.86 price target on the stock. Separately, analysts at Northcoast Research downgraded shares of ManpowerGroup from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. Finally, analysts at Merrill Lynch upgraded shares of ManpowerGroup from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. ManpowerGroup presently has a consensus rating of “Buy” and a consensus target price of $69.44.
ManpowerGroup Inc, formerly Manpower Inc provides workforce solutions and services. The Company provides a comprehensive suite of high-impact workforce solutions and services for the entire business cycle, which includes recruitment and assessment, training and development, career management, outsourcing and workforce consulting.
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