ManpowerGroup (NYSE:MAN) Issues Q2 Earnings Guidance

ManpowerGroup (NYSE:MAN) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.24-1.34 for the period, compared to the consensus earnings per share estimate of $1.23. ManpowerGroup also updated its Q2 2024 guidance to 1.240-1.340 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. William Blair assumed coverage on shares of ManpowerGroup in a research note on Monday, January 8th. They issued a market perform rating on the stock. Truist Financial lifted their price objective on shares of ManpowerGroup from $75.00 to $78.00 and gave the company a hold rating in a research note on Wednesday, January 31st. StockNews.com cut shares of ManpowerGroup from a buy rating to a hold rating in a research note on Wednesday, January 31st. BNP Paribas restated an underperform rating and issued a $70.00 target price on shares of ManpowerGroup in a research report on Friday, January 5th. Finally, BMO Capital Markets cut their target price on shares of ManpowerGroup from $86.00 to $85.00 and set a market perform rating on the stock in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $83.00.

ManpowerGroup Stock Performance

Shares of ManpowerGroup stock opened at $72.30 on Thursday. ManpowerGroup has a fifty-two week low of $67.35 and a fifty-two week high of $88.91. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $3.50 billion, a P/E ratio of 41.96, a P/E/G ratio of 0.60 and a beta of 1.54. The company’s 50 day moving average price is $73.26 and its two-hundred day moving average price is $74.35.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Tuesday, January 30th. The business services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.26. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.57 billion. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. ManpowerGroup’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 earnings per share. On average, equities analysts forecast that ManpowerGroup will post 5.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ManpowerGroup

Hedge funds have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC acquired a new position in shares of ManpowerGroup during the second quarter worth $247,000. Advisor Partners II LLC acquired a new position in shares of ManpowerGroup during the fourth quarter worth $232,000. Rockefeller Capital Management L.P. raised its stake in ManpowerGroup by 171.1% during the first quarter. Rockefeller Capital Management L.P. now owns 2,744 shares of the business services provider’s stock worth $225,000 after buying an additional 1,732 shares during the last quarter. Corton Capital Inc. bought a new position in ManpowerGroup during the first quarter worth $209,000. Finally, LPL Financial LLC bought a new position in ManpowerGroup during the fourth quarter worth $206,000. Institutional investors and hedge funds own 98.03% of the company’s stock.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.