ManpowerGroup (NYSE:MAN) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

ManpowerGroup (NYSE:MAN) released its earnings results on Thursday. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04, Briefing.com reports. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the business earned $1.61 EPS. ManpowerGroup’s revenue for the quarter was down 7.3% on a year-over-year basis. ManpowerGroup updated its Q2 2024 guidance to 1.240-1.340 EPS and its Q2 guidance to $1.24-1.34 EPS.

ManpowerGroup Price Performance

Shares of NYSE MAN opened at $74.03 on Friday. 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’s 50 day simple moving average is $73.28 and its 200-day simple moving average is $74.35. ManpowerGroup has a 12 month low of $67.35 and a 12 month high of $88.91. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 44.33, a PEG ratio of 0.60 and a beta of 1.54.

Institutional Trading of ManpowerGroup

A number of hedge funds have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new position in shares of ManpowerGroup in the second quarter worth about $247,000. Advisor Partners II LLC purchased a new position in shares of ManpowerGroup in the 4th quarter valued at about $232,000. Rockefeller Capital Management L.P. increased its stake in shares of ManpowerGroup by 171.1% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,744 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 1,732 shares in the last quarter. Corton Capital Inc. acquired a new position in ManpowerGroup in the 1st quarter worth about $209,000. Finally, LPL Financial LLC purchased a new position in ManpowerGroup during the fourth quarter worth approximately $206,000. 98.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAN has been the subject of several research reports. William Blair began coverage on shares of ManpowerGroup in a research note on Monday, January 8th. They set a “market perform” rating for the company. Truist Financial lifted their price target on ManpowerGroup from $75.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on ManpowerGroup from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Friday. BMO Capital Markets decreased their target price on ManpowerGroup from $86.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, February 1st. Finally, BNP Paribas reiterated an “underperform” rating and issued a $70.00 price target on shares of ManpowerGroup in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.13.

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.