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 (EPS) for the quarter, beating 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 company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period last year, the firm earned $1.61 EPS. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MAN shares. JPMorgan Chase & Co. lifted their price target on ManpowerGroup from $82.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets decreased their target price on ManpowerGroup from $86.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, February 1st. William Blair started coverage on ManpowerGroup in a report on Monday, January 8th. They issued a “market perform” rating on the stock. Truist Financial lifted their target price on ManpowerGroup from $75.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Finally, StockNews.com cut ManpowerGroup from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.13.

Hedge Funds Weigh In On ManpowerGroup

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAN. CWM LLC boosted its holdings in ManpowerGroup by 345.1% during the third quarter. CWM LLC now owns 365 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 283 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of ManpowerGroup by 54.8% during the 4th quarter. Venturi Wealth Management LLC now owns 452 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 160 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of ManpowerGroup by 19.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,011 shares of the business services provider’s stock valued at $74,000 after buying an additional 162 shares in the last quarter. Captrust Financial Advisors increased its position in shares of ManpowerGroup by 72.6% in the 1st quarter. Captrust Financial Advisors now owns 858 shares of the business services provider’s stock valued at $81,000 after buying an additional 361 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its position in shares of ManpowerGroup by 145.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,086 shares of the business services provider’s stock valued at $86,000 after buying an additional 644 shares in the last quarter. 98.03% of the stock is currently owned by institutional investors.

ManpowerGroup Stock Performance

The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 44.81, a price-to-earnings-growth ratio of 0.60 and a beta of 1.54. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $73.32 and its two-hundred day moving average is $74.37.

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.