ManpowerGroup Inc. (NYSE:MAN) – Analysts at Northcoast Research decreased their Q4 2019 earnings estimates for ManpowerGroup in a research note issued on Monday, October 21st. Northcoast Research analyst J. Healy now anticipates that the business services provider will post earnings per share of $2.04 for the quarter, down from their prior forecast of $2.28. Northcoast Research also issued estimates for ManpowerGroup’s FY2020 earnings at $7.70 EPS.
Several other equities analysts also recently weighed in on MAN. ValuEngine downgraded ManpowerGroup from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America decreased their target price on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada decreased their target price on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Robert W. Baird set a $101.00 target price on ManpowerGroup and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, SunTrust Banks decreased their target price on ManpowerGroup from $97.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $94.57.
Shares of MAN stock opened at $89.62 on Wednesday. The company has a market capitalization of $5.36 billion, a P/E ratio of 11.48, a P/E/G ratio of 6.16 and a beta of 1.58. The business’s 50 day moving average is $84.42 and its two-hundred day moving average is $88.79. ManpowerGroup has a 12-month low of $61.57 and a 12-month high of $97.96. The company has a current ratio of 1.48, a quick ratio of 1.46 and a debt-to-equity ratio of 0.47.
ManpowerGroup announced that its board has initiated a stock repurchase program on Friday, August 2nd that allows the company to buyback 6,000,000 shares. This buyback authorization allows the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Sriram Chandrashekar sold 6,789 shares of ManpowerGroup stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $89.30, for a total transaction of $606,257.70. Following the transaction, the executive vice president now owns 3,232 shares in the company, valued at $288,617.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Richard Buchband sold 1,750 shares of ManpowerGroup stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $85.43, for a total value of $149,502.50. Following the transaction, the senior vice president now owns 8,214 shares in the company, valued at approximately $701,722.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,410 shares of company stock worth $2,012,062. Company insiders own 1.49% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MAN. FMR LLC lifted its position in ManpowerGroup by 2.1% during the first quarter. FMR LLC now owns 682,407 shares of the business services provider’s stock worth $56,428,000 after buying an additional 13,803 shares in the last quarter. Pensionfund DSM Netherlands acquired a new stake in ManpowerGroup during the second quarter worth $2,318,000. Pensionfund Sabic acquired a new stake in ManpowerGroup during the second quarter worth $1,546,000. DNB Asset Management AS acquired a new stake in ManpowerGroup during the second quarter worth $3,178,000. Finally, Empirical Finance LLC increased its stake in ManpowerGroup by 0.9% during the second quarter. Empirical Finance LLC now owns 29,236 shares of the business services provider’s stock worth $2,824,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.
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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