BMO Capital Markets restated their outperform rating on shares of ManpowerGroup Inc. (NYSE:MAN) in a report published on Tuesday morning. BMO Capital Markets currently has a $81.00 target price on the stock.
“We are updating our estimates above consensus and the midpoint of MTN’s guidance range and reiterating our Buy rating: (1) near- term momentum (season pass sales, strong balance sheet and strong FCF); (2) we are positive on the Whistler Blackcomb (WB, Not Rated) acquisition that remains on track to close this Fall; (3) multi- year growth opportunity. MTN reported a solid quarter with revenues ahead and adj. EBITDA in-line with consensus.”,” the firm’s analyst commented.
Several other equities analysts have also commented on MAN. Bank of America Corp. reissued a buy rating on shares of ManpowerGroup in a research report on Friday, June 10th. William Blair downgraded ManpowerGroup from an outperform rating to a market perform rating in a report on Friday, June 24th. Credit Suisse Group AG downgraded ManpowerGroup from an outperform rating to a neutral rating and dropped their price objective for the stock from $88.00 to $73.00 in a report on Monday, June 27th. Avondale Partners downgraded ManpowerGroup from an outperform rating to a market perform rating and lifted their price objective for the stock from $74.00 to $96.00 in a report on Monday, June 27th. Finally, Zacks Investment Research downgraded ManpowerGroup from a hold rating to a sell rating in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $82.83.
Shares of ManpowerGroup (NYSE:MAN) traded up 1.01% during midday trading on Tuesday, hitting $71.27. The company had a trading volume of 92,451 shares. The stock’s 50-day moving average price is $70.12 and its 200-day moving average price is $73.84. ManpowerGroup has a 12 month low of $57.26 and a 12 month high of $93.34. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 12.18 and a beta of 1.87.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.52 by $0.08. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.06 billion. ManpowerGroup had a return on equity of 17.19% and a net margin of 2.23%. ManpowerGroup’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. On average, equities research analysts forecast that ManpowerGroup will post $5.90 EPS for the current year.
In related news, EVP Handel Michael J. Van sold 31,855 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $69.77, for a total transaction of $2,222,523.35. Following the completion of the transaction, the executive vice president now directly owns 31,378 shares in the company, valued at approximately $2,189,243.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Handel Michael J. Van sold 57,348 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $70.13, for a total value of $4,021,815.24. Following the transaction, the executive vice president now owns 40,931 shares of the company’s stock, valued at $2,870,491.03. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MAN. Acrospire Investment Management LLC increased its position in shares of ManpowerGroup by 124.9% in the second quarter. Acrospire Investment Management LLC now owns 1,799 shares of the company’s stock worth $116,000 after buying an additional 999 shares during the last quarter. PineBridge Investments L.P. acquired a new position in shares of ManpowerGroup during the second quarter worth about $156,000. Tower Research Capital LLC TRC acquired a new position in shares of ManpowerGroup during the second quarter worth about $192,000. Nuveen Fund Advisors LLC acquired a new position in shares of ManpowerGroup during the second quarter worth about $202,000. Finally, Invictus RG raised its position in shares of ManpowerGroup by 2,024.0% in the second quarter. Invictus RG now owns 3,271 shares of the company’s stock worth $210,000 after buying an additional 3,117 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.
ManpowerGroup Company Profile
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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