ManpowerGroup (NYSE:MAN) Shares Gap Down – Here’s What Happened

ManpowerGroup Inc. (NYSE:MAN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $74.30, but opened at $70.58. ManpowerGroup shares last traded at $67.64, with a volume of 302,738 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MAN. BMO Capital Markets boosted their price objective on shares of ManpowerGroup from $80.00 to $87.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. reduced their target price on ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ManpowerGroup currently has a consensus rating of “Hold” and an average price target of $82.40.

ManpowerGroup Stock Down 11.0 %

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $71.89 and a 200-day simple moving average of $72.78. The firm has a market cap of $3.15 billion, a PE ratio of 69.73 and a beta of 1.45.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, July 18th. The business services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.53 billion. ManpowerGroup had a net margin of 0.25% and a return on equity of 11.08%. ManpowerGroup’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 EPS. Sell-side analysts predict that ManpowerGroup Inc. will post 4.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in ManpowerGroup by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 1,096,658 shares of the business services provider’s stock valued at $87,151,000 after acquiring an additional 17,481 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of ManpowerGroup by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,912,219 shares of the business services provider’s stock valued at $549,314,000 after buying an additional 17,691 shares during the last quarter. ARGA Investment Management LP increased its holdings in ManpowerGroup by 22.6% in the 1st quarter. ARGA Investment Management LP now owns 48,396 shares of the business services provider’s stock worth $3,757,000 after buying an additional 8,916 shares in the last quarter. Hexagon Capital Partners LLC raised its position in ManpowerGroup by 25.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,364 shares of the business services provider’s stock worth $106,000 after buying an additional 278 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in ManpowerGroup by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 149,375 shares of the business services provider’s stock worth $11,597,000 after buying an additional 15,438 shares during the last quarter. Institutional investors own 98.03% of the company’s stock.

ManpowerGroup Company Profile

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.