ManpowerGroup (NYSE:MAN) Shares Gap Up Following Better-Than-Expected Earnings

Shares of ManpowerGroup Inc. (NYSE:MAN) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $70.07, but opened at $75.92. ManpowerGroup shares last traded at $74.45, with a volume of 74,249 shares.

The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.44 billion. ManpowerGroup had a return on equity of 12.60% and a net margin of 0.47%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period last year, the company earned $1.61 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MAN shares. StockNews.com lowered ManpowerGroup from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. BMO Capital Markets cut their price target on ManpowerGroup from $86.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, February 1st. UBS Group cut their price target on ManpowerGroup from $81.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. increased their price target on ManpowerGroup from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Truist Financial increased their price target on ManpowerGroup from $75.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Two investment 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 data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.13.

Institutional Trading of ManpowerGroup

Several hedge funds have recently added to or reduced their stakes in MAN. Schroder Investment Management Group acquired a new stake in ManpowerGroup during the 3rd quarter worth $94,417,000. Invesco Ltd. raised its stake in shares of ManpowerGroup by 67.2% in the 1st quarter. Invesco Ltd. now owns 1,839,997 shares of the business services provider’s stock valued at $172,812,000 after purchasing an additional 739,380 shares during the period. Norges Bank acquired a new stake in shares of ManpowerGroup in the 4th quarter valued at about $44,057,000. Victory Capital Management Inc. raised its stake in shares of ManpowerGroup by 11.5% in the 3rd quarter. Victory Capital Management Inc. now owns 3,622,221 shares of the business services provider’s stock valued at $265,581,000 after purchasing an additional 373,473 shares during the period. Finally, Millennium Management LLC raised its stake in shares of ManpowerGroup by 816.4% in the 2nd quarter. Millennium Management LLC now owns 293,212 shares of the business services provider’s stock valued at $22,404,000 after purchasing an additional 261,217 shares during the period. Institutional investors and hedge funds own 98.03% of the company’s stock.

ManpowerGroup Price Performance

The company has a 50 day simple moving average of $73.32 and a 200-day simple moving average of $74.37. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 44.81, a P/E/G ratio of 0.60 and a beta of 1.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44.

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.