ManpowerGroup (MAN) Shares Down 9% on Disappointing Earnings

Shares of ManpowerGroup (NYSE:MAN) traded down 9% on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $107.09 and last traded at $108.18, with a volume of 1,998,113 shares traded. The stock had previously closed at $118.83.

The business services provider reported $1.72 EPS for the quarter, missing the consensus estimate of $1.73 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.06 billion. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 EPS.

Several equities analysts have issued reports on MAN shares. BidaskClub upgraded ManpowerGroup from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded ManpowerGroup from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research note on Friday, April 21st. Northcoast Research reiterated a “neutral” rating on shares of ManpowerGroup in a research note on Monday, July 17th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $111.00 target price (up previously from $104.00) on shares of ManpowerGroup in a research note on Friday, July 14th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $111.00 target price (up previously from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $102.71.

In other ManpowerGroup news, Director Ulice Payne, Jr. sold 2,100 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $107.94, for a total value of $226,674.00. Following the completion of the sale, the director now owns 11,136 shares of the company’s stock, valued at $1,202,019.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Darryl Green sold 76,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $105.83, for a total value of $8,043,080.00. Following the completion of the sale, the chief operating officer now directly owns 36,454 shares of the company’s stock, valued at approximately $3,857,926.82. The disclosure for this sale can be found here. In the last three months, insiders sold 121,715 shares of company stock valued at $12,904,283. Corporate insiders own 0.87% of the company’s stock.

A number of large investors have recently modified their holdings of MAN. First Manhattan Co. increased its stake in shares of ManpowerGroup by 10.7% in the first quarter. First Manhattan Co. now owns 67,409 shares of the business services provider’s stock valued at $4,871,000 after buying an additional 6,520 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of ManpowerGroup by 20.2% in the first quarter. Nationwide Fund Advisors now owns 145,389 shares of the business services provider’s stock valued at $14,913,000 after buying an additional 24,411 shares in the last quarter. James Investment Research Inc. increased its stake in shares of ManpowerGroup by 70.5% in the first quarter. James Investment Research Inc. now owns 343,707 shares of the business services provider’s stock valued at $35,254,000 after buying an additional 142,175 shares in the last quarter. Oakbrook Investments LLC increased its stake in shares of ManpowerGroup by 2.7% in the first quarter. Oakbrook Investments LLC now owns 5,805 shares of the business services provider’s stock valued at $595,000 after buying an additional 155 shares in the last quarter. Finally, Deschutes Portfolio Strategy LLC purchased a new stake in ManpowerGroup during the first quarter worth approximately $234,000. 93.74% of the stock is owned by institutional investors and hedge funds.

The company has a 50 day moving average price of $110.90 and a 200-day moving average price of $103.33. The stock has a market capitalization of $7.13 billion, a PE ratio of 16.35 and a beta of 1.39.

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About ManpowerGroup

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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