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.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MAN. Truist Financial lifted their price objective on shares of ManpowerGroup from $75.00 to $78.00 and gave the company a hold rating in a research report on Wednesday, January 31st. BMO Capital Markets lowered their price objective on shares of ManpowerGroup from $86.00 to $85.00 and set a market perform rating on the stock in a research report on Thursday, February 1st. StockNews.com lowered shares of ManpowerGroup from a buy rating to a hold rating in a research report on Wednesday, January 31st. BNP Paribas restated an underperform rating and set a $70.00 target price on shares of ManpowerGroup in a research report on Friday, January 5th. Finally, William Blair began coverage on shares of ManpowerGroup in a research report on Monday, January 8th. They set a market perform rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $83.00.

ManpowerGroup Price Performance

ManpowerGroup stock opened at $70.07 on Thursday. ManpowerGroup has a 52 week low of $67.35 and a 52 week high of $88.91. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.44. The firm’s 50-day simple moving average is $73.26 and its 200 day simple moving average is $74.35. The firm has a market capitalization of $3.39 billion, a PE ratio of 41.96, a P/E/G ratio of 0.60 and a beta of 1.54.

ManpowerGroup (NYSE:MAN) last announced its earnings results on Tuesday, January 30th. The business services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.26. ManpowerGroup had a net margin of 0.47% and a return on equity of 12.60%. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities research analysts predict that ManpowerGroup will post 5.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MAN. Vanguard Group Inc. lifted its holdings in shares of ManpowerGroup by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,912,219 shares of the business services provider’s stock worth $549,314,000 after acquiring an additional 17,691 shares during the period. State Street Corp lifted its holdings in shares of ManpowerGroup by 4.1% during the 1st quarter. State Street Corp now owns 1,990,548 shares of the business services provider’s stock worth $164,278,000 after acquiring an additional 78,884 shares during the period. Invesco Ltd. lifted its holdings in shares of ManpowerGroup by 67.2% during the 1st quarter. Invesco Ltd. now owns 1,839,997 shares of the business services provider’s stock worth $172,812,000 after acquiring an additional 739,380 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of ManpowerGroup by 8.8% during the 1st quarter. Thrivent Financial for Lutherans now owns 944,162 shares of the business services provider’s stock worth $77,921,000 after acquiring an additional 76,080 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of ManpowerGroup by 2.6% during the 1st quarter. Geode Capital Management LLC now owns 767,551 shares of the business services provider’s stock worth $64,099,000 after acquiring an additional 19,090 shares during the period. Institutional investors and hedge funds own 98.03% of the company’s stock.

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.