Shares of ManpowerGroup Inc. (NYSE:MAN – Get Free Report) fell 2.6% during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $79.76 and last traded at $80.23. 35,012 shares were traded during trading, a decline of 90% from the average session volume of 351,807 shares. The stock had previously closed at $82.35.
The business services provider reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.04). ManpowerGroup had a net margin of 1.85% and a return on equity of 17.48%. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the business earned $2.33 earnings per share. The business’s quarterly revenue was down 4.3% on a year-over-year basis.
ManpowerGroup Increases Dividend
The firm also recently announced a Semi-Annual dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a $1.47 dividend. The ex-dividend date was Wednesday, May 31st. This represents a yield of 3.9%. This is an increase from ManpowerGroup’s previous Semi-Annual dividend of $1.36. ManpowerGroup’s dividend payout ratio (DPR) is 42.73%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on MAN shares. Robert W. Baird reduced their target price on ManpowerGroup from $97.00 to $95.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets cut their price target on ManpowerGroup from $92.00 to $80.00 in a research note on Monday, April 24th. StockNews.com downgraded ManpowerGroup from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Truist Financial cut their price target on ManpowerGroup from $92.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, April 21st. Finally, UBS Group began coverage on ManpowerGroup in a research report on Wednesday, May 31st. They set a “neutral” rating and a $77.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ManpowerGroup presently has a consensus rating of “Hold” and a consensus price target of $81.70.
Institutional Trading of ManpowerGroup
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sendero Wealth Management LLC grew its holdings in ManpowerGroup by 6.7% in the 2nd quarter. Sendero Wealth Management LLC now owns 20,739 shares of the business services provider’s stock valued at $1,647,000 after buying an additional 1,298 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of ManpowerGroup by 60.5% during the 2nd quarter. Exchange Traded Concepts LLC now owns 849 shares of the business services provider’s stock worth $67,000 after purchasing an additional 320 shares during the period. Uncommon Cents Investing LLC grew its holdings in shares of ManpowerGroup by 15.3% during the 2nd quarter. Uncommon Cents Investing LLC now owns 13,730 shares of the business services provider’s stock worth $1,090,000 after purchasing an additional 1,820 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of ManpowerGroup by 9.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,700 shares of the business services provider’s stock worth $1,167,000 after purchasing an additional 1,300 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of ManpowerGroup by 2.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 113,648 shares of the business services provider’s stock worth $9,024,000 after purchasing an additional 3,018 shares during the period. Hedge funds and other institutional investors own 94.95% of the company’s stock.
ManpowerGroup Stock Down 3.1 %
The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $4.03 billion, a PE ratio of 11.98, a PEG ratio of 7.64 and a beta of 1.67. The stock has a fifty day moving average price of $77.12 and a 200-day moving average price of $80.54.
ManpowerGroup Company Profile
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.