ManpowerGroup (MAN) Downgraded by BidaskClub to “Hold”
ManpowerGroup (NYSE:MAN) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research cut ManpowerGroup from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BMO Capital Markets boosted their price target on ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $111.00 price target (up from $104.00) on shares of ManpowerGroup in a report on Friday, July 14th. Northcoast Research reissued a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 17th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $111.00 price target (up from $106.00) on shares of ManpowerGroup in a report on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. ManpowerGroup currently has an average rating of “Hold” and an average price target of $102.71.
Shares of ManpowerGroup (MAN) traded down 0.14% during mid-day trading on Friday, hitting $106.66. The company’s stock had a trading volume of 421,859 shares. ManpowerGroup has a 12-month low of $67.30 and a 12-month high of $119.59. The stock has a 50-day moving average of $110.90 and a 200-day moving average of $103.80. The company has a market cap of $7.12 billion, a PE ratio of 16.32 and a beta of 1.39.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.73 by $0.01. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the firm earned $1.60 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that ManpowerGroup will post $6.75 EPS for the current year.
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In related news, EVP Sriram Chandrashekar sold 19,912 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $105.39, for a total value of $2,098,525.68. Following the completion of the transaction, the executive vice president now directly owns 1,659 shares in the company, valued at $174,842.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mara E. Swan sold 2,393 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $109.18, for a total value of $261,267.74. Following the completion of the transaction, the executive vice president now owns 27,078 shares of the company’s stock, valued at $2,956,376.04. The disclosure for this sale can be found here. Insiders sold 124,108 shares of company stock valued at $13,165,550 over the last quarter. Insiders own 0.87% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in ManpowerGroup by 39.8% in the first quarter. Russell Investments Group Ltd. now owns 520,809 shares of the business services provider’s stock valued at $53,432,000 after buying an additional 148,161 shares during the last quarter. Paragon Capital Management Ltd acquired a new position in ManpowerGroup during the first quarter valued at approximately $2,532,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in ManpowerGroup by 31.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,255 shares of the business services provider’s stock valued at $129,000 after buying an additional 300 shares during the last quarter. Shell Asset Management Co. raised its position in ManpowerGroup by 5.3% in the first quarter. Shell Asset Management Co. now owns 3,484 shares of the business services provider’s stock valued at $357,000 after buying an additional 174 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in ManpowerGroup by 13.9% in the first quarter. Janney Montgomery Scott LLC now owns 4,318 shares of the business services provider’s stock valued at $443,000 after buying an additional 528 shares during the last quarter. Hedge funds and other institutional investors own 93.95% of the company’s stock.
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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