ManpowerGroup (NYSE:MAN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “ManpowerGroup’s brand value and strong global network provide a competitive advantage and reinforces its dominant position in the market. The company is continuously making significant investments to expand permanent recruitment solutions offerings to capitalize on the future revenue-generating opportunities. Through its cost recalibration and simplification plan, the company has fine-tuned its network and augmented its global delivery model. ManpowerGroup has also outperformed the industry year to date. However, revenues are likely to be affected by the Brexit referendum as nearly two-thirds of the total revenue come from Europe and the U.K. The employment services industry is also highly competitive with low barriers to entry and ManpowerGroup faces stiff competition from other established players in both domestic and international markets that limits its profitability.”
MAN has been the topic of several other research reports. BMO Capital Markets reissued a “buy” rating and issued a $124.00 target price on shares of ManpowerGroup in a report on Friday, September 1st. BidaskClub lowered ManpowerGroup from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Credit Suisse Group reissued a “neutral” rating and issued a $111.00 target price (up previously from $106.00) on shares of ManpowerGroup in a report on Tuesday, July 25th. Northcoast Research reissued a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $111.00 target price (up previously from $104.00) on shares of ManpowerGroup in a report on Friday, July 14th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $109.60.
Shares of ManpowerGroup (MAN) traded down 0.76% during midday trading on Wednesday, hitting $114.49. 120,086 shares of the stock were exchanged. ManpowerGroup has a one year low of $67.30 and a one year high of $119.59. The firm has a 50 day moving average of $108.54 and a 200-day moving average of $105.32. The company has a market cap of $7.64 billion, a price-to-earnings ratio of 17.51 and a beta of 1.38.
ManpowerGroup (NYSE:MAN) last posted its earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.01). The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.06 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 2.5% on a year-over-year basis. During the same period last year, the company posted $1.60 EPS. Equities analysts expect that ManpowerGroup will post $6.75 EPS for the current year.
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In related news, EVP Mara E. Swan sold 2,393 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $109.18, for a total transaction of $261,267.74. Following the sale, the executive vice president now owns 27,078 shares of the company’s stock, valued at $2,956,376.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Darryl Green sold 76,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $105.83, for a total value of $8,043,080.00. Following the sale, the chief operating officer now directly owns 36,454 shares in the company, valued at approximately $3,857,926.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 124,108 shares of company stock worth $13,165,550. Corporate insiders own 0.87% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its stake in shares of ManpowerGroup by 27.6% during the second quarter. Acrospire Investment Management LLC now owns 924 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 200 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of ManpowerGroup by 14.1% during the second quarter. IFP Advisors Inc now owns 941 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 116 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of ManpowerGroup during the first quarter valued at $101,000. First Quadrant L P CA acquired a new stake in shares of ManpowerGroup during the second quarter valued at $123,000. Finally, Harfst & Associates Inc. acquired a new stake in shares of ManpowerGroup during the second quarter valued at $149,000. 93.72% of the stock is currently owned by institutional investors and hedge funds.
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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