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

Shares of ManpowerGroup Inc. (NYSE:MAN) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. ManpowerGroup had a return on equity of 12.60% and a net margin of 0.47%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter last year, the company earned $1.61 EPS. The business’s quarterly revenue was down 7.3% on a year-over-year basis.

Analyst Ratings Changes

Several brokerages have recently weighed in on MAN. UBS Group cut their target price on ManpowerGroup from $81.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday. BNP Paribas restated an “underperform” rating and set a $70.00 price target on shares of ManpowerGroup in a research note on Friday, January 5th. BMO Capital Markets lowered their target price 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. StockNews.com downgraded ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on ManpowerGroup from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday. 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $83.13.

Institutional Trading of ManpowerGroup

Institutional investors have recently modified their holdings of the business. UBS Group AG boosted its stake in shares of ManpowerGroup by 88.3% in the third quarter. UBS Group AG now owns 52,185 shares of the business services provider’s stock valued at $3,826,000 after buying an additional 24,466 shares in the last quarter. ING Groep NV acquired a new position in ManpowerGroup during the third quarter worth $1,019,000. Teachers Retirement System of The State of Kentucky raised its holdings in ManpowerGroup by 91.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,437 shares of the business services provider’s stock worth $1,278,000 after purchasing an additional 8,318 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in ManpowerGroup during the third quarter worth $1,603,000. Finally, Quantbot Technologies LP raised its holdings in ManpowerGroup by 376.8% during the third quarter. Quantbot Technologies LP now owns 23,688 shares of the business services provider’s stock worth $1,737,000 after purchasing an additional 18,720 shares during the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

ManpowerGroup Stock Performance

The firm has a fifty day moving average of $73.32 and a 200-day moving average of $74.37. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 0.60 and a beta of 1.54. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.44.

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.