Jefferies Financial Group Analysts Cut Earnings Estimates

ManpowerGroup Inc. (NYSE:MAN – Get Rating) – Investment analysts at Jefferies Financial Group lowered their FY2022 EPS estimates for ManpowerGroup in a research note issued on Wednesday, July 20th. Jefferies Financial Group analyst H. Mazari now forecasts that the business services provider will post earnings per share of $8.44 for the year, down from their prior forecast of $8.83. The consensus estimate for ManpowerGroup’s current full-year earnings is $8.71 per share. Jefferies Financial Group also issued estimates for ManpowerGroup’s Q1 2023 earnings at $1.56 EPS, Q2 2023 earnings at $2.09 EPS, Q3 2023 earnings at $2.28 EPS, Q4 2023 earnings at $2.36 EPS and Q2 2024 earnings at $2.38 EPS.

ManpowerGroup (NYSE:MAN – Get Rating) last posted its quarterly earnings results on Tuesday, July 19th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.02. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.28 billion. ManpowerGroup had a net margin of 2.04% and a return on equity of 18.15%.

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A number of other brokerages have also recently issued reports on MAN. JPMorgan Chase & Co. cut shares of ManpowerGroup from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $78.00 in a report on Monday, July 11th. Robert W. Baird dropped their price target on shares of ManpowerGroup from $120.00 to $94.00 in a research report on Friday, July 15th. Truist Financial lowered shares of ManpowerGroup from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research report on Friday, July 15th. Credit Suisse Group dropped their price target on shares of ManpowerGroup to $80.00 in a research report on Friday. Finally, Barclays dropped their price target on shares of ManpowerGroup from $100.00 to $80.00 and set an “underweight” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, ManpowerGroup currently has an average rating of “Hold” and an average target price of $82.67.

ManpowerGroup Trading Down 4.4 %

NYSE:MAN opened at $75.70 on Monday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 0.78 and a beta of 1.76. The firm has a fifty day simple moving average of $82.01 and a two-hundred day simple moving average of $92.68. ManpowerGroup has a 12 month low of $73.76 and a 12 month high of $123.84. The company has a current ratio of 1.19, a quick ratio of 1.12 and a debt-to-equity ratio of 0.39.

ManpowerGroup Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a $1.36 dividend. This is a positive change from ManpowerGroup’s previous Semi-Annual dividend of $1.26. The ex-dividend date was Tuesday, May 31st. This represents a yield of 3%. ManpowerGroup’s payout ratio is currently 35.05%.

Insiders Place Their Bets

In other ManpowerGroup news, Director Ulice Payne, Jr. sold 600 shares of ManpowerGroup stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $86.69, for a total value of $52,014.00. Following the sale, the director now owns 8,532 shares of the company’s stock, valued at $739,639.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Trading of ManpowerGroup

Several hedge funds and other institutional investors have recently modified their holdings of MAN. Invesco Ltd. raised its position in shares of ManpowerGroup by 67.2% in the first quarter. Invesco Ltd. now owns 1,839,997 shares of the business services provider’s stock valued at $172,812,000 after purchasing an additional 739,380 shares during the period. Victory Capital Management Inc. raised its position in shares of ManpowerGroup by 11.9% in the first quarter. Victory Capital Management Inc. now owns 2,849,885 shares of the business services provider’s stock valued at $266,976,000 after purchasing an additional 304,004 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of ManpowerGroup in the first quarter valued at approximately $18,574,000. Point72 Europe London LLP bought a new stake in shares of ManpowerGroup in the fourth quarter valued at approximately $14,884,000. Finally, First Trust Advisors LP grew its stake in ManpowerGroup by 172.5% during the first quarter. First Trust Advisors LP now owns 191,041 shares of the business services provider’s stock valued at $17,943,000 after acquiring an additional 120,935 shares in the last quarter. Institutional investors own 95.26% of the company’s stock.

About ManpowerGroup

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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.

Further Reading

Earnings History and Estimates for ManpowerGroup (NYSE:MAN)

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