ManpowerGroup (NYSE:MAN) Stock Price Up 7.1% Following Earnings Beat

ManpowerGroup Inc. (NYSE:MAN)’s stock price was up 7.1% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $32.23 and last traded at $31.02. Approximately 415,107 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 896,064 shares. The stock had previously closed at $28.96.

The business services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $4.71 billion for the quarter, compared to analysts’ expectations of $4.63 billion. ManpowerGroup had a negative net margin of 0.12% and a positive return on equity of 7.02%. ManpowerGroup’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.02 EPS.

ManpowerGroup Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.72 per share. This represents a dividend yield of 505.0%. The ex-dividend date of this dividend was Monday, December 1st. ManpowerGroup’s dividend payout ratio (DPR) is currently -306.38%.

Wall Street Analyst Weigh In

MAN has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of ManpowerGroup from $50.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, October 17th. Truist Financial lowered their price target on ManpowerGroup from $48.00 to $44.00 and set a “hold” rating for the company in a report on Monday, October 13th. BMO Capital Markets raised ManpowerGroup from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Thursday, December 18th. The Goldman Sachs Group cut their price target on ManpowerGroup from $33.00 to $29.00 and set a “sell” rating on the stock in a research note on Friday, November 21st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of ManpowerGroup in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, ManpowerGroup presently has a consensus rating of “Reduce” and a consensus target price of $38.83.

Institutional Investors Weigh In On ManpowerGroup

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its stake in ManpowerGroup by 60.3% during the 3rd quarter. AQR Capital Management LLC now owns 3,704,326 shares of the business services provider’s stock valued at $140,394,000 after acquiring an additional 1,393,622 shares in the last quarter. Alberta Investment Management Corp increased its stake in ManpowerGroup by 772.9% in the third quarter. Alberta Investment Management Corp now owns 1,059,100 shares of the business services provider’s stock valued at $40,140,000 after purchasing an additional 937,771 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in ManpowerGroup by 696.9% during the second quarter. Balyasny Asset Management L.P. now owns 991,063 shares of the business services provider’s stock worth $40,039,000 after purchasing an additional 866,693 shares in the last quarter. Brickwood Asset Management LLP acquired a new position in shares of ManpowerGroup in the 2nd quarter valued at $29,649,000. Finally, Schroder Investment Management Group grew its position in shares of ManpowerGroup by 48.2% in the 2nd quarter. Schroder Investment Management Group now owns 1,778,578 shares of the business services provider’s stock valued at $71,855,000 after buying an additional 578,843 shares during the last quarter. 98.03% of the stock is owned by hedge funds and other institutional investors.

ManpowerGroup Trading Up 6.8%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.43 billion, a PE ratio of -66.00 and a beta of 0.88. The business’s 50-day moving average is $29.43 and its two-hundred day moving average is $34.91.

About ManpowerGroup

ManpowerGroup (NYSE: MAN) is a global leader in workforce solutions, offering a broad spectrum of staffing and talent management services. Founded in 1948 and headquartered in Milwaukee, Wisconsin, the company has grown from a temporary staffing firm to a diversified provider of workforce consultancy, recruitment, and outsourcing services. ManpowerGroup is publicly traded on the New York Stock Exchange under the ticker MAN.

The company’s service offerings are organized into four principal brands.