ManpowerGroup Receives “Outperform” Rating from Credit Suisse (MAN)
ManpowerGroup (NYSE:MAN)‘s stock had its “outperform” rating reiterated by analysts at Credit Suisse in a research report issued to clients and investors on Wednesday. They currently have a $97.00 price objective on the stock, down from their previous price objective of $100.00. Credit Suisse’s target price indicates a potential upside of 18.48% from the stock’s previous close.
The analysts wrote, “Overall market trends in Q2 look in line with expectations despite French temp staffing data declining sequentially in April (holiday related). US unemployment looks better but is skewed because of low workforce participation. In Europe – the environment in France, Spain, Italy, Portugal, etc. stabilizing, and things look better on a relative basis (i.e. coming off a low base), but UK and Germany are doing well. “In APAC, emerging markets are a mixed bag (India is better while China and Latin America are worse at the margin; the flattish market growth in Japan offsets the low unemployment in the region).”
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of ManpowerGroup from $95.00 to $96.00 in a research note on Wednesday, May 7th. Separately, analysts at Zacks reiterated an “outperform” rating on shares of ManpowerGroup in a research note on Friday, May 2nd. They now have a $90.00 price target on the stock. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. ManpowerGroup presently has an average rating of “Buy” and an average price target of $91.75.
Shares of ManpowerGroup (NYSE:MAN) traded up 1.27% during mid-day trading on Wednesday, hitting $82.91. 144,772 shares of the company’s stock traded hands. ManpowerGroup has a 52-week low of $53.17 and a 52-week high of $87.16. The stock’s 50-day moving average is $80.76 and its 200-day moving average is $80.12. The company has a market cap of $6.602 billion and a P/E ratio of 19.71.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.86 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.18. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the company posted $0.63 earnings per share. ManpowerGroup’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that ManpowerGroup will post $5.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, May 29th. This is a positive change from ManpowerGroup’s previous quarterly dividend of $0.46.
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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