ManpowerGroup (NYSE:MAN) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
ManpowerGroup (NYSE:MAN) posted its earnings results on Monday. The business services provider reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.02, RTT News reports. ManpowerGroup had a return on equity of 17.72% and a net margin of 2.25%. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The business’s revenue 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 (NYSE MAN) opened at 118.83 on Monday. The company’s 50 day moving average price is $109.79 and its 200 day moving average price is $101.63. ManpowerGroup has a 52-week low of $66.50 and a 52-week high of $119.59. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 18.51 and a beta of 1.40.
In other ManpowerGroup news, SVP Richard Buchband sold 1,250 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $109.00, for a total transaction of $136,250.00. Following the transaction, the senior vice president now directly owns 3,884 shares in the company, valued at approximately $423,356. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in ManpowerGroup by 1,236.2% in the first quarter. BlackRock Inc. now owns 8,185,672 shares of the business services provider’s stock valued at $839,606,000 after buying an additional 7,573,043 shares during the last quarter. Acadian Asset Management LLC increased its position in ManpowerGroup by 334.8% in the first quarter. Acadian Asset Management LLC now owns 920,404 shares of the business services provider’s stock valued at $94,408,000 after buying an additional 708,698 shares during the last quarter. JPMorgan Chase & Co. increased its position in ManpowerGroup by 82.8% in the first quarter. JPMorgan Chase & Co. now owns 1,465,441 shares of the business services provider’s stock valued at $150,311,000 after buying an additional 663,971 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in ManpowerGroup during the first quarter valued at approximately $57,066,000. Finally, LSV Asset Management increased its position in ManpowerGroup by 37.3% in the first quarter. LSV Asset Management now owns 1,458,668 shares of the business services provider’s stock valued at $149,615,000 after buying an additional 396,096 shares during the last quarter. Institutional investors own 93.39% of the company’s stock.
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MAN has been the topic of several research analyst reports. Northcoast Research reissued a “neutral” rating on shares of ManpowerGroup in a research note on Monday, July 17th. Zacks Investment Research raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Tuesday, July 4th. BidaskClub raised ManpowerGroup from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada reissued a “sector perform” rating and set a $111.00 target price (up from $104.00) on shares of ManpowerGroup in a research note on Friday, July 14th. Finally, BMO Capital Markets boosted their target price on ManpowerGroup from $113.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, July 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $98.00.
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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