ManpowerGroup (NYSE:MAN) Cut to Neutral at Credit Suisse Group

Credit Suisse Group downgraded shares of ManpowerGroup (NYSE:MAN) from an outperform rating to a neutral rating in a research report report published on Wednesday, Benzinga reports. The brokerage currently has $88.00 price objective on the business services provider’s stock, down from their prior price objective of $102.00.

Other research analysts have also issued reports about the stock. Royal Bank of Canada began coverage on shares of ManpowerGroup in a research note on Tuesday, April 16th. They issued an outperform rating and a $114.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of ManpowerGroup to $93.00 and gave the company a market perform rating in a research note on Monday, April 22nd. Zacks Investment Research lowered shares of ManpowerGroup from a hold rating to a sell rating in a research note on Tuesday, April 2nd. TheStreet raised shares of ManpowerGroup from a c+ rating to a b- rating in a research note on Wednesday, February 20th. Finally, ValuEngine raised shares of ManpowerGroup from a sell rating to a hold rating in a research note on Friday, April 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $94.64.

Shares of NYSE MAN opened at $90.80 on Wednesday. The firm has a market cap of $5.42 billion, a P/E ratio of 10.15, a P/E/G ratio of 3.71 and a beta of 1.55. ManpowerGroup has a 12-month low of $61.57 and a 12-month high of $97.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.43 and a current ratio of 1.43.

ManpowerGroup (NYSE:MAN) last issued its earnings results on Thursday, April 18th. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.04. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5 billion. ManpowerGroup had a net margin of 2.39% and a return on equity of 20.08%. ManpowerGroup’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.72 earnings per share. Equities research analysts predict that ManpowerGroup will post 7.84 earnings per share for the current fiscal year.

The firm also recently disclosed a semiannual dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were paid a $1.09 dividend. This represents a dividend yield of 2.43%. This is a positive change from ManpowerGroup’s previous semiannual dividend of $1.01. The ex-dividend date of this dividend was Friday, May 31st. ManpowerGroup’s dividend payout ratio (DPR) is 24.36%.

Several institutional investors have recently added to or reduced their stakes in MAN. Fort L.P. lifted its position in shares of ManpowerGroup by 926.4% during the fourth quarter. Fort L.P. now owns 544 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 491 shares in the last quarter. Cresset Asset Management LLC bought a new position in shares of ManpowerGroup during the first quarter valued at about $39,000. Oregon Public Employees Retirement Fund lifted its position in shares of ManpowerGroup by 6,258.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,212,136 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 3,161,617 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of ManpowerGroup during the fourth quarter valued at about $84,000. Finally, Kore Private Wealth LLC bought a new position in shares of ManpowerGroup during the first quarter valued at about $90,000. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

ManpowerGroup Company Profile

ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. 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.

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Analyst Recommendations for ManpowerGroup (NYSE:MAN)

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