Analysts Anticipate ManpowerGroup (MAN) Will Post Quarterly Sales of $5.39 Billion
Equities analysts expect that ManpowerGroup (NYSE:MAN) will announce $5.39 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for ManpowerGroup’s earnings. The highest sales estimate is $5.47 billion and the lowest is $5.33 billion. ManpowerGroup reported sales of $5.09 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.9%. The company is expected to announce its next quarterly earnings results on Friday, October 20th.
On average, analysts expect that ManpowerGroup will report full-year sales of $5.39 billion for the current financial year, with estimates ranging from $20.42 billion to $20.92 billion. For the next year, analysts anticipate that the business will post sales of $22.01 billion per share, with estimates ranging from $21.07 billion to $22.77 billion. Zacks’ sales averages are an average based on a survey of analysts that follow ManpowerGroup.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by $0.01. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business posted $1.60 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis.
A number of analysts have recently commented on MAN shares. Zacks Investment Research cut shares of ManpowerGroup from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $111.00 price target (up previously from $104.00) on shares of ManpowerGroup in a research note on Friday, July 14th. Northcoast Research reiterated a “neutral” rating on shares of ManpowerGroup in a research note on Monday, July 17th. Finally, BMO Capital Markets upped their price target on shares of ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. ManpowerGroup currently has a consensus rating of “Hold” and an average target price of $102.71.
ManpowerGroup (NYSE MAN) opened at 107.92 on Tuesday. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 16.51 and a beta of 1.39. ManpowerGroup has a 1-year low of $66.53 and a 1-year high of $119.59. The firm has a 50 day moving average of $110.85 and a 200-day moving average of $102.71.
In other news, EVP Sriram Chandrashekar sold 19,912 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $105.39, for a total transaction of $2,098,525.68. Following the completion of the sale, the executive vice president now owns 1,659 shares of the company’s stock, valued at approximately $174,842.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Buchband sold 1,250 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $109.00, for a total transaction of $136,250.00. Following the sale, the senior vice president now directly owns 3,884 shares of the company’s stock, valued at approximately $423,356. The disclosure for this sale can be found here. In the last three months, insiders sold 121,715 shares of company stock valued at $12,904,283. 0.87% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in MAN. BlackRock Inc. raised its stake 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 raised its stake 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. raised its stake 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 acquired a new stake in ManpowerGroup during the first quarter valued at approximately $57,066,000. Finally, LSV Asset Management raised its stake 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. 93.74% of the stock is owned by hedge funds and other institutional investors.
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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