ManpowerGroup (MAN) Earns Neutral Rating from Credit Suisse Group
ManpowerGroup (NYSE:MAN)‘s stock had its “neutral” rating reaffirmed by stock analysts at Credit Suisse Group in a research report issued on Monday, The Fly reports. They currently have a $126.00 price objective on the business services provider’s stock, up from their previous price objective of $111.00. Credit Suisse Group’s price objective suggests a potential upside of 2.66% from the stock’s current price.
MAN has been the subject of a number of other research reports. BMO Capital Markets increased their target price on shares of ManpowerGroup from $124.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, October 2nd. Royal Bank Of Canada downgraded shares of ManpowerGroup from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 28th. Zacks Investment Research downgraded shares of ManpowerGroup from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Northcoast Research reissued a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Finally, BidaskClub raised shares of ManpowerGroup from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $123.20.
ManpowerGroup (MAN) opened at 124.305 on Monday. The company’s 50-day moving average is $117.89 and its 200-day moving average is $109.16. The firm has a market cap of $8.30 billion, a PE ratio of 19.016 and a beta of 1.40. ManpowerGroup has a one year low of $74.07 and a one year high of $125.01.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Friday, October 20th. The business services provider reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.08. The business 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 quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.87 EPS. On average, analysts forecast that ManpowerGroup will post $6.76 earnings per share for the current fiscal year.
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In other news, Director Ulice Payne, Jr. sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were 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 owns 11,136 shares of the company’s stock, valued at approximately $1,202,019.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sriram Chandrashekar sold 19,912 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $105.39, for a total transaction of $2,098,525.68. Following the sale, the executive vice president now directly owns 1,659 shares of the company’s stock, valued at approximately $174,842.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,858 shares of company stock valued at $13,029,300. Insiders own 0.87% of the company’s stock.
Several hedge funds have recently made changes to their positions in MAN. AJO LP grew its position 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 worth $205,395,000 after buying an additional 434,069 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of ManpowerGroup by 45.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,335,628 shares of the business services provider’s stock worth $149,121,000 after purchasing an additional 415,224 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of ManpowerGroup by 736.2% in the 2nd quarter. American Century Companies Inc. now owns 348,282 shares of the business services provider’s stock worth $38,886,000 after purchasing an additional 306,630 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of ManpowerGroup by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,286,080 shares of the business services provider’s stock worth $701,840,000 after purchasing an additional 267,064 shares in the last quarter. Finally, State Treasurer State of Michigan lifted its holdings in shares of ManpowerGroup by 794.1% in the 3rd quarter. State Treasurer State of Michigan now owns 247,030 shares of the business services provider’s stock worth $29,105,000 after purchasing an additional 219,400 shares in the last quarter. 93.64% of the stock is owned by institutional investors.
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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