ManpowerGroup (NYSE:MAN) Updates Q2 Earnings Guidance

ManpowerGroup (NYSE:MAN) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.24-1.34 for the period, compared to the consensus earnings per share estimate of $1.23. ManpowerGroup also updated its Q2 2024 guidance to 1.240-1.340 EPS.

ManpowerGroup Price Performance

Shares of MAN opened at $74.03 on Friday. ManpowerGroup has a 1-year low of $67.35 and a 1-year high of $88.91. The stock has a market cap of $3.58 billion, a PE ratio of 44.33, a P/E/G ratio of 0.60 and a beta of 1.54. The firm has a 50-day simple moving average of $73.28 and a two-hundred day simple moving average of $74.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.16 and a quick ratio of 1.16.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Thursday, April 18th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the previous year, the business posted $1.61 earnings per share. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. As a group, analysts forecast that ManpowerGroup will post 5.01 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MAN. BMO Capital Markets reduced their price objective on shares of ManpowerGroup from $86.00 to $85.00 and set a market perform rating for the company in a research report on Thursday, February 1st. William Blair started coverage on shares of ManpowerGroup in a research report on Monday, January 8th. They issued a market perform rating for the company. Truist Financial boosted their price objective on shares of ManpowerGroup from $75.00 to $78.00 and gave the company a hold rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on shares of ManpowerGroup from $82.00 to $84.00 and gave the stock a neutral rating in a research note on Friday. Finally, BNP Paribas reaffirmed an underperform rating and set a $70.00 price target on shares of ManpowerGroup in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $83.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in ManpowerGroup by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,912,219 shares of the business services provider’s stock valued at $549,314,000 after purchasing an additional 17,691 shares in the last quarter. State Street Corp lifted its holdings in ManpowerGroup by 4.1% in the 1st quarter. State Street Corp now owns 1,990,548 shares of the business services provider’s stock valued at $164,278,000 after purchasing an additional 78,884 shares in the last quarter. Invesco Ltd. lifted its holdings in 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 in the last quarter. Thrivent Financial for Lutherans lifted its holdings in ManpowerGroup by 8.8% in the 1st quarter. Thrivent Financial for Lutherans now owns 944,162 shares of the business services provider’s stock valued at $77,921,000 after purchasing an additional 76,080 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in ManpowerGroup by 2.6% in the 1st quarter. Geode Capital Management LLC now owns 767,551 shares of the business services provider’s stock valued at $64,099,000 after purchasing an additional 19,090 shares in the last quarter. 98.03% of the stock is currently owned by hedge funds and other institutional investors.

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.