ManpowerGroup Inc. (MAN) Lowered to Hold at Zacks Investment Research
ManpowerGroup Inc. (NYSE:MAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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.”
MAN has been the topic of a number of other reports. Avondale Partners downgraded ManpowerGroup from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $74.00 to $96.00 in a research note on Monday, June 27th. BMO Capital Markets reissued a “buy” rating on shares of ManpowerGroup in a research note on Monday, June 27th. Credit Suisse Group AG downgraded ManpowerGroup from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $88.00 to $73.00 in a research note on Monday, June 27th. Deutsche Bank AG assumed coverage on ManpowerGroup in a research note on Wednesday, August 17th. They issued a “hold” rating and a $77.00 price objective on the stock. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $85.00 price objective on shares of ManpowerGroup in a research note on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $82.83.
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Shares of ManpowerGroup (NYSE:MAN) traded down 0.37% during trading on Monday, reaching $71.88. The company had a trading volume of 138,450 shares. The firm has a market capitalization of $4.93 billion, a PE ratio of 12.29 and a beta of 1.82. The stock has a 50 day moving average price of $71.03 and a 200 day moving average price of $73.37. ManpowerGroup has a 12 month low of $57.26 and a 12 month high of $93.34.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Thursday, July 21st. The company reported $1.60 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $5 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business earned $1.33 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that ManpowerGroup will post $5.90 EPS for the current year.
In related news, EVP Handel Michael J. Van sold 31,855 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $69.77, for a total value of $2,222,523.35. Following the sale, the executive vice president now owns 31,378 shares of the company’s stock, valued at approximately $2,189,243.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Handel Michael J. Van sold 57,348 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $70.13, for a total value of $4,021,815.24. Following the completion of the sale, 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. Insiders own 1.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. MSI Financial Services Inc raised 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 in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ManpowerGroup by 15.0% in the third quarter. Nisa Investment Advisors LLC now owns 19,243 shares of the company’s stock valued at $1,390,000 after buying an additional 2,503 shares in the last quarter. CenturyLink Investment Management Co raised its stake in shares of ManpowerGroup by 23.5% in the third quarter. CenturyLink Investment Management Co now owns 14,104 shares of the company’s stock valued at $1,019,000 after buying an additional 2,680 shares in the last quarter. Algert Global LLC bought a new stake in shares of ManpowerGroup during the third quarter valued at approximately $843,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of ManpowerGroup by 164.0% in the third quarter. BNP Paribas Arbitrage SA now owns 100,037 shares of the company’s stock valued at $7,229,000 after buying an additional 62,148 shares in the last quarter. 94.88% of the stock is currently 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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