ManpowerGroup (NYSE:MAN) Downgraded by Goldman Sachs Group

ManpowerGroup (NYSE:MAN) was downgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Tuesday, The Fly reports. They currently have a $54.00 price objective on the business services provider’s stock, down from their previous price objective of $57.00. Goldman Sachs Group’s price target points to a potential downside of 23.19% from the company’s current price.

Several other brokerages have also recently issued reports on MAN. Credit Suisse Group raised ManpowerGroup from an “underperform” rating to a “neutral” rating and set a $70.00 target price on the stock in a research report on Thursday, May 21st. They noted that the move was a valuation call. SunTrust Banks decreased their target price on ManpowerGroup from $92.00 to $64.00 in a research note on Friday, March 27th. ValuEngine raised ManpowerGroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Barclays downgraded ManpowerGroup from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $112.00 to $68.00 in a research note on Thursday, March 19th. Finally, CL King reduced their price objective on ManpowerGroup from $107.00 to $80.00 in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. ManpowerGroup presently has a consensus rating of “Hold” and an average price target of $78.25.

MAN opened at $70.30 on Tuesday. The stock has a fifty day simple moving average of $70.44 and a two-hundred day simple moving average of $76.32. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 16.49 and a beta of 2.03. ManpowerGroup has a 12-month low of $49.57 and a 12-month high of $100.99.

ManpowerGroup (NYSE:MAN) last posted its quarterly earnings data on Tuesday, April 21st. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.23 billion. ManpowerGroup had a return on equity of 15.36% and a net margin of 2.02%. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.39 earnings per share. On average, analysts predict that ManpowerGroup will post 2.8 EPS for the current year.

Several hedge funds have recently modified their holdings of the business. FinTrust Capital Advisors LLC lifted its stake in shares of ManpowerGroup by 220.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 497 shares of the business services provider’s stock worth $26,000 after purchasing an additional 342 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of ManpowerGroup by 10.2% during the 1st quarter. Van ECK Associates Corp now owns 2,647 shares of the business services provider’s stock worth $140,000 after purchasing an additional 244 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ManpowerGroup by 130.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,036 shares of the business services provider’s stock worth $161,000 after purchasing an additional 1,720 shares during the last quarter. FDx Advisors Inc. purchased a new stake in shares of ManpowerGroup during the 1st quarter worth $165,000. Finally, AGF Investments Inc. purchased a new stake in shares of ManpowerGroup during the 1st quarter worth $200,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

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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