$5.39 Billion in Sales Expected for ManpowerGroup (MAN) This Quarter
Wall Street brokerages expect ManpowerGroup (NYSE:MAN) to report $5.39 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for ManpowerGroup’s earnings, with the lowest sales estimate coming in at $5.33 billion and the highest estimate coming in at $5.47 billion. ManpowerGroup posted sales of $5.09 billion during the same quarter last year, which would indicate a positive year over year growth rate of 5.9%. The firm is expected to issue its next quarterly earnings results on Friday, October 20th.
According to Zacks, analysts expect that ManpowerGroup will report full year sales of $5.39 billion for the current year, with estimates ranging from $20.42 billion to $20.92 billion. For the next financial year, analysts forecast 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 calculations are a mean average based on a survey of sell-side research firms that that provide coverage for ManpowerGroup.
ManpowerGroup (NYSE:MAN) last posted its quarterly earnings results on Friday, October 20th. The business services provider reported $2.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.08. The company had revenue of $5.47 billion during the quarter, compared to analyst estimates of $5.41 billion. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.87 earnings per share.
Several equities research analysts recently commented on the company. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $107.00 price objective on shares of ManpowerGroup in a report on Friday. BMO Capital Markets reiterated a “buy” rating and issued a $134.00 price objective on shares of ManpowerGroup in a report on Friday, October 13th. Zacks Investment Research upgraded ManpowerGroup from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Wednesday. Royal Bank Of Canada downgraded ManpowerGroup from an “outperform” rating to a “sector perform” rating in a report on Thursday, September 28th. Finally, Northcoast Research reiterated a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 17th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $120.20.
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ManpowerGroup (NYSE MAN) opened at 122.74 on Friday. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 18.78 and a beta of 1.40. The company’s 50-day moving average is $117.89 and its 200 day moving average is $109.16. ManpowerGroup has a 52-week low of $75.29 and a 52-week high of $124.24.
In other ManpowerGroup news, Director Ulice Payne, Jr. sold 2,100 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $107.94, for a total transaction of $226,674.00. Following the completion of the sale, the director now directly owns 11,136 shares in the company, valued at approximately $1,202,019.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sriram Chandrashekar sold 19,912 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $105.39, for a total value of $2,098,525.68. Following the sale, the executive vice president now owns 1,659 shares of the company’s stock, valued at $174,842.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,858 shares of company stock valued at $13,029,300. Corporate insiders own 0.87% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of ManpowerGroup by 0.3% during the 2nd quarter. BlackRock Inc. now owns 8,214,114 shares of the business services provider’s stock valued at $917,106,000 after purchasing an additional 28,442 shares during the period. Vanguard Group Inc. grew its stake in shares of ManpowerGroup by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,286,080 shares of the business services provider’s stock valued at $701,840,000 after purchasing an additional 267,064 shares during the period. Boston Partners grew its stake in shares of ManpowerGroup by 3.3% during the 2nd quarter. Boston Partners now owns 3,697,608 shares of the business services provider’s stock valued at $412,838,000 after purchasing an additional 119,340 shares during the period. State Street Corp grew its stake in shares of ManpowerGroup by 0.6% during the 1st quarter. State Street Corp now owns 2,673,581 shares of the business services provider’s stock valued at $274,247,000 after purchasing an additional 16,876 shares during the period. Finally, AJO LP grew its stake in shares of ManpowerGroup by 30.9% during the 2nd quarter. AJO LP now owns 1,839,632 shares of the business services provider’s stock valued at $205,395,000 after purchasing an additional 434,069 shares during the period. Institutional investors and hedge funds own 93.64% 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.
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