ManpowerGroup (NYSE:MAN) Reaches New 1-Year Low Following Weak Earnings

Shares of ManpowerGroup Inc. (NYSE:MAN - Get Free Report) hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $41.72 and last traded at $42.77, with a volume of 455490 shares trading hands. The stock had previously closed at $49.51.

The business services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.08). The business had revenue of $698.30 million for the quarter, compared to analyst estimates of $3.94 billion. ManpowerGroup had a return on equity of 10.19% and a net margin of 0.81%. During the same period in the previous year, the company earned $0.94 earnings per share.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of ManpowerGroup from $63.00 to $57.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Truist Financial decreased their price target on ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a research note on Monday. BMO Capital Markets lowered their target price on shares of ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating on the stock in a report on Monday. Barclays upgraded ManpowerGroup from an "underweight" rating to an "equal weight" rating and lowered their target price for the company from $55.00 to $50.00 in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, ManpowerGroup presently has a consensus rating of "Hold" and a consensus price target of $57.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its holdings in shares of ManpowerGroup by 0.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 47,562 shares of the business services provider's stock valued at $2,745,000 after buying an additional 234 shares during the period. SummerHaven Investment Management LLC lifted its holdings in ManpowerGroup by 2.1% during the first quarter. SummerHaven Investment Management LLC now owns 11,657 shares of the business services provider's stock worth $675,000 after acquiring an additional 238 shares in the last quarter. Fifth Third Bancorp grew its stake in ManpowerGroup by 48.6% in the first quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock valued at $43,000 after acquiring an additional 243 shares during the period. Vident Advisory LLC increased its holdings in shares of ManpowerGroup by 2.8% in the fourth quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider's stock worth $618,000 after acquiring an additional 290 shares in the last quarter. Finally, Twin Capital Management Inc. raised its position in shares of ManpowerGroup by 1.7% during the fourth quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider's stock worth $1,495,000 after purchasing an additional 439 shares during the period. Institutional investors own 98.03% of the company's stock.

ManpowerGroup Price Performance

The company has a fifty day moving average price of $55.18 and a two-hundred day moving average price of $59.27. The company has a current ratio of 1.12, a quick ratio of 1.15 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.86 billion, a P/E ratio of 13.34 and a beta of 1.28.

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.