ManpowerGroup Inc. (MAN) Downgraded by Zacks Investment Research to Hold
ManpowerGroup Inc. (NYSE:MAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
According to Zacks, “ManpowerGroup’s brand value, wide range of services and strong global network reinforces its dominant position in the market. Management continues to believe that global recovery is on track but at a slow and uneven pace. As a result, management is focusing on internal drivers like disciplined pricing and tough control on productivity to ensure uninterrupted profitability. This led the company to post better-than-expected bottom-line results in past 10 quarters. ManpowerGroup expects third-quarter earnings per share in the range of $1.66–$1.74. However, on the revenue front, the company continues to struggle and missed the estimate in the four straight quarters. The strengthening U.S. dollar will continue to affect ManpowerGroup’s quarterly performance as the international markets contribute nearly 85% of its revenues. More importantly, the U.K.’s exit from EU will have an impact on business.”
Several other equities analysts have also issued reports on MAN. Bank of America Corp. lowered ManpowerGroup from a “neutral” rating to an “underperform” rating in a research note on Friday, June 24th. William Blair lowered ManpowerGroup from an “outperform” rating to a “market perform” rating in a research note on Friday, June 24th. Credit Suisse Group AG lowered ManpowerGroup from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $88.00 to $73.00 in a research note on Monday, June 27th. Avondale Partners lowered ManpowerGroup from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $74.00 to $96.00 in a research note on Monday, June 27th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of ManpowerGroup in a research note on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $82.83.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/17/manpowergroup-inc-man-downgraded-by-zacks-investment-research-to-hold.html
Shares of ManpowerGroup (NYSE:MAN) traded down 0.42% during mid-day trading on Monday, reaching $71.85. The company’s stock had a trading volume of 139,098 shares. The company has a 50 day moving average of $71.03 and a 200-day moving average of $73.37. ManpowerGroup has a 12 month low of $57.26 and a 12 month high of $93.34. The firm has a market capitalization of $4.92 billion, a P/E ratio of 12.28 and a beta of 1.82.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.08. ManpowerGroup had a return on equity of 17.19% and a net margin of 2.23%. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the company posted $1.33 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that ManpowerGroup will post $5.90 EPS for the current year.
In other ManpowerGroup news, EVP Handel Michael J. Van sold 31,855 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $69.77, for a total transaction of $2,222,523.35. Following the transaction, the executive vice president now owns 31,378 shares of the company’s stock, valued at approximately $2,189,243.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Handel Michael J. Van sold 57,348 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $70.13, for a total value of $4,021,815.24. Following the transaction, the executive vice president now directly owns 40,931 shares in the company, valued at approximately $2,870,491.03. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. MSI Financial Services Inc boosted its stake in shares of ManpowerGroup by 208.7% in the third quarter. MSI Financial Services Inc now owns 1,627 shares of the company’s stock valued at $118,000 after buying an additional 1,100 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of ManpowerGroup by 124.9% in the second quarter. Acrospire Investment Management LLC now owns 1,799 shares of the company’s stock valued at $116,000 after buying an additional 999 shares during the last quarter. PineBridge Investments L.P. acquired a new stake in shares of ManpowerGroup during the second quarter valued at approximately $156,000. Bayesian Capital Management LP acquired a new stake in shares of ManpowerGroup during the first quarter valued at approximately $212,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of ManpowerGroup during the second quarter valued at approximately $192,000. Institutional investors own 94.88% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ManpowerGroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ManpowerGroup Inc. and related companies with MarketBeat.com's FREE daily email newsletter.