Zacks: Brokerages Expect ManpowerGroup Inc. (NYSE:MAN) to Post $1.96 EPS

Wall Street analysts expect that ManpowerGroup Inc. (NYSE:MAN) will announce $1.96 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for ManpowerGroup’s earnings, with the highest EPS estimate coming in at $2.10 and the lowest estimate coming in at $1.91. ManpowerGroup posted earnings of $2.47 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 20.6%. The firm is scheduled to report its next quarterly earnings report on Friday, October 18th.

According to Zacks, analysts expect that ManpowerGroup will report full-year earnings of $7.55 per share for the current financial year, with EPS estimates ranging from $7.47 to $7.72. For the next fiscal year, analysts expect that the company will post earnings of $8.06 per share, with EPS estimates ranging from $7.90 to $8.28. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover ManpowerGroup.

ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Friday, July 19th. The business services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.06. ManpowerGroup had a return on equity of 19.19% and a net margin of 2.34%. The firm had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same period last year, the business posted $2.35 EPS. ManpowerGroup’s quarterly revenue was down 5.0% on a year-over-year basis.

Several research firms have weighed in on MAN. JPMorgan Chase & Co. raised their price target on ManpowerGroup from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Credit Suisse Group downgraded ManpowerGroup from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $88.00 to $83.00 in a research report on Wednesday, July 10th. Bank of America decreased their price objective on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Royal Bank of Canada decreased their price objective on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. ManpowerGroup currently has an average rating of “Hold” and a consensus price target of $93.30.

In other news, EVP Mara E. Swan sold 14,871 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $84.48, for a total transaction of $1,256,302.08. Following the sale, the executive vice president now owns 7,228 shares in the company, valued at $610,621.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.49% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in ManpowerGroup by 144.4% in the second quarter. Parallel Advisors LLC now owns 352 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 208 shares during the last quarter. CWM LLC boosted its holdings in ManpowerGroup by 114.4% in the second quarter. CWM LLC now owns 373 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 199 shares during the last quarter. Destination Wealth Management acquired a new position in ManpowerGroup in the second quarter valued at $58,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in ManpowerGroup in the second quarter valued at $95,000. Finally, Machina Capital S.A.S. boosted its holdings in ManpowerGroup by 273.5% in the second quarter. Machina Capital S.A.S. now owns 1,042 shares of the business services provider’s stock valued at $101,000 after acquiring an additional 763 shares during the last quarter. Hedge funds and other institutional investors own 91.99% of the company’s stock.

NYSE MAN traded down $0.24 during mid-day trading on Thursday, hitting $84.73. The stock had a trading volume of 174,751 shares, compared to its average volume of 565,750. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.50. The company has a 50 day simple moving average of $89.82 and a 200 day simple moving average of $88.44. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 9.47, a P/E/G ratio of 3.60 and a beta of 1.55. ManpowerGroup has a 52-week low of $61.57 and a 52-week high of $97.96.

ManpowerGroup announced that its board has initiated a stock repurchase program on Friday, August 2nd that allows the company to buyback 6,000,000 outstanding shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

ManpowerGroup Company Profile

ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.

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Earnings History and Estimates for ManpowerGroup (NYSE:MAN)

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