$5.39 Billion in Sales Expected for ManpowerGroup (MAN) This Quarter
Brokerages predict that ManpowerGroup (NYSE:MAN) will post $5.39 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for ManpowerGroup’s earnings, with the highest sales estimate coming in at $5.47 billion and the lowest estimate coming in at $5.33 billion. ManpowerGroup reported sales of $5.09 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The business is expected to announce its next quarterly earnings results before the market opens on Friday, October 20th.
According to Zacks, analysts expect that ManpowerGroup will report full-year sales of $5.39 billion for the current year, with estimates ranging from $20.42 billion to $20.92 billion. For the next fiscal year, analysts expect that the business will post sales of $22.01 billion per share, with estimates ranging from $21.07 billion to $22.77 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow ManpowerGroup.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings results on Monday, July 24th. The business services provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.01). ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the business posted $1.60 earnings per share. ManpowerGroup’s revenue was up 2.5% compared to the same quarter last year.
Several research firms have commented on MAN. Royal Bank Of Canada downgraded shares of ManpowerGroup from an “outperform” rating to a “sector perform” rating in a report on Thursday, September 28th. BMO Capital Markets upped their price objective on shares of ManpowerGroup from $124.00 to $132.00 and gave the company an “outperform” rating in a report on Monday. Northcoast Research reaffirmed a “neutral” rating on shares of ManpowerGroup in a report on Monday, July 17th. Zacks Investment Research downgraded shares of ManpowerGroup from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, BidaskClub raised shares of ManpowerGroup from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $111.20.
In other news, Director Ulice Payne, Jr. sold 2,100 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $107.94, for a total value of $226,674.00. Following the sale, the director now directly owns 11,136 shares of the company’s stock, valued at $1,202,019.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Darryl Green sold 76,000 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $105.83, for a total transaction of $8,043,080.00. Following the completion of the sale, the chief operating officer now directly owns 36,454 shares in the company, valued at $3,857,926.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,858 shares of company stock worth $13,029,300. Insiders own 0.87% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Clinton Group Inc. bought a new position in shares of ManpowerGroup in the first quarter worth approximately $724,000. Victory Capital Management Inc. increased its position in shares of ManpowerGroup by 9.4% in the first quarter. Victory Capital Management Inc. now owns 182,808 shares of the business services provider’s stock worth $18,750,000 after purchasing an additional 15,703 shares during the last quarter. Credit Agricole S A increased its position in shares of ManpowerGroup by 18.1% in the first quarter. Credit Agricole S A now owns 53,709 shares of the business services provider’s stock worth $5,509,000 after purchasing an additional 8,226 shares during the last quarter. United Services Automobile Association increased its position in shares of ManpowerGroup by 61.4% in the first quarter. United Services Automobile Association now owns 24,295 shares of the business services provider’s stock worth $2,492,000 after purchasing an additional 9,239 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of ManpowerGroup by 5.5% in the first quarter. OppenheimerFunds Inc. now owns 48,092 shares of the business services provider’s stock worth $4,933,000 after purchasing an additional 2,512 shares during the last quarter. 93.71% of the stock is currently owned by hedge funds and other institutional investors.
ManpowerGroup (MAN) traded down 0.18% during trading on Monday, reaching $121.57. 450,229 shares of the company were exchanged. The firm’s 50 day moving average price is $113.64 and its 200-day moving average price is $107.49. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 18.60 and a beta of 1.40. ManpowerGroup has a one year low of $70.64 and a one year high of $122.61.
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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