BMO Capital Markets Has Lowered Expectations for ManpowerGroup (NYSE:MAN) Stock Price

ManpowerGroup (NYSE:MAN) had its price objective trimmed by BMO Capital Markets from $54.00 to $48.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a market perform rating on the business services provider’s stock.

A number of other equities research analysts have also recently commented on MAN. JPMorgan Chase & Co. cut their price target on shares of ManpowerGroup from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Truist Financial lowered their price target on ManpowerGroup from $70.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, April 15th. Barclays upgraded ManpowerGroup from an “underweight” rating to an “equal weight” rating and reduced their price objective for the stock from $55.00 to $50.00 in a report on Thursday, April 10th. Finally, UBS Group lowered their target price on shares of ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, ManpowerGroup currently has a consensus rating of “Hold” and a consensus price target of $57.50.

ManpowerGroup Price Performance

Shares of MAN stock opened at $39.88 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 13.34 and a beta of 1.28. The business’s fifty day moving average is $55.18 and its 200 day moving average is $59.27. ManpowerGroup has a twelve month low of $39.22 and a twelve month high of $78.87.

ManpowerGroup (NYSE:MAN) last released its earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). The business had revenue of $698.30 million for the quarter, compared to analysts’ expectations of $3.94 billion. ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. During the same quarter in the previous year, the business posted $0.94 earnings per share. Research analysts expect that ManpowerGroup will post 4.23 EPS for the current fiscal year.

Hedge Funds Weigh In On ManpowerGroup

Several institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its holdings in ManpowerGroup by 45.8% during the fourth quarter. AQR Capital Management LLC now owns 2,262,265 shares of the business services provider’s stock valued at $130,125,000 after buying an additional 711,043 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of ManpowerGroup in the 4th quarter worth $34,200,000. Norges Bank bought a new position in ManpowerGroup in the 4th quarter worth $27,706,000. Millennium Management LLC lifted its position in ManpowerGroup by 137.0% during the fourth quarter. Millennium Management LLC now owns 811,595 shares of the business services provider’s stock valued at $46,845,000 after purchasing an additional 469,184 shares in the last quarter. Finally, Barclays PLC grew its holdings in ManpowerGroup by 194.3% during the fourth quarter. Barclays PLC now owns 455,803 shares of the business services provider’s stock valued at $26,308,000 after purchasing an additional 300,917 shares during the period. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Company Profile

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.