JPMorgan Chase & Co. Cuts ManpowerGroup (NYSE:MAN) Price Target to $75.00

ManpowerGroup (NYSE:MAN) had its target price cut by JPMorgan Chase & Co. from $84.00 to $75.00 in a research note published on Friday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

MAN has been the subject of a number of other research reports. UBS Group cut their price target on shares of ManpowerGroup from $81.00 to $80.00 and set a neutral rating for the company in a report on Friday, April 19th. BNP Paribas raised shares of ManpowerGroup from an underperform rating to an outperform rating and set a $92.00 price target for the company in a report on Tuesday, June 11th. Finally, BMO Capital Markets upped their price target on shares of ManpowerGroup from $80.00 to $87.00 and gave the stock a market perform rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $82.40.

ManpowerGroup Stock Performance

NYSE MAN opened at $71.44 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.14 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $3.41 billion, a P/E ratio of 73.65, a P/E/G ratio of 1.50 and a beta of 1.47. ManpowerGroup has a 12-month low of $66.03 and a 12-month high of $86.03. The firm has a 50-day moving average price of $72.35 and a two-hundred day moving average price of $73.72.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. ManpowerGroup had a net margin of 0.25% and a return on equity of 11.08%. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the prior year, the firm posted $1.58 EPS. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. Analysts anticipate that ManpowerGroup will post 5 earnings per share for the current year.

ManpowerGroup Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were given a dividend of $1.54 per share. This represents a yield of 3.8%. This is a boost from ManpowerGroup’s previous semi-annual dividend of $1.47. The ex-dividend date was Monday, June 3rd. ManpowerGroup’s dividend payout ratio is currently 317.53%.

Hedge Funds Weigh In On ManpowerGroup

A number of institutional investors have recently added to or reduced their stakes in MAN. Public Employees Retirement System of Ohio increased its position in ManpowerGroup by 1.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,144 shares of the business services provider’s stock worth $1,697,000 after purchasing an additional 356 shares in the last quarter. CX Institutional increased its position in ManpowerGroup by 2.2% in the 4th quarter. CX Institutional now owns 46,332 shares of the business services provider’s stock valued at $3,682,000 after acquiring an additional 977 shares during the period. SG Americas Securities LLC acquired a new position in ManpowerGroup in the 4th quarter valued at approximately $247,000. Raymond James & Associates increased its position in ManpowerGroup by 5.2% in the 4th quarter. Raymond James & Associates now owns 3,526 shares of the business services provider’s stock valued at $280,000 after acquiring an additional 173 shares during the period. Finally, Pacer Advisors Inc. increased its position in ManpowerGroup by 75.0% in the 4th quarter. Pacer Advisors Inc. now owns 7,334 shares of the business services provider’s stock valued at $583,000 after acquiring an additional 3,144 shares during the period. 98.03% of the stock is currently owned by institutional investors and hedge funds.

About ManpowerGroup

ManpowerGroup Inc provides workforce solutions and services worldwide. 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. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.