ManpowerGroup Inc. (NYSE:MAN) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,999,800 shares, an increase of 47.2% from the May 15th total of 1,358,300 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average trading volume of 556,200 shares, the days-to-cover ratio is currently 3.6 days.
Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in shares of ManpowerGroup by 4,521.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,403,200 shares of the business services provider’s stock worth $116,031,000 after buying an additional 1,372,837 shares during the last quarter. Norges Bank bought a new position in shares of ManpowerGroup in the 4th quarter worth $53,506,000. JPMorgan Chase & Co. increased its holdings in shares of ManpowerGroup by 171.5% in the 1st quarter. JPMorgan Chase & Co. now owns 590,329 shares of the business services provider’s stock worth $48,815,000 after buying an additional 372,917 shares during the last quarter. FMR LLC increased its holdings in shares of ManpowerGroup by 75.2% in the 4th quarter. FMR LLC now owns 668,604 shares of the business services provider’s stock worth $43,326,000 after buying an additional 287,019 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of ManpowerGroup by 62.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 343,720 shares of the business services provider’s stock worth $28,424,000 after buying an additional 132,752 shares during the last quarter. 91.03% of the stock is currently owned by institutional investors and hedge funds.
MAN has been the topic of a number of research analyst reports. ValuEngine upgraded shares of ManpowerGroup from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Credit Suisse Group cut shares of ManpowerGroup from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $102.00 to $88.00 in a research note on Wednesday, June 12th. BMO Capital Markets boosted their target price on shares of ManpowerGroup to $93.00 and gave the company a “market perform” rating in a research note on Monday, April 22nd. Royal Bank of Canada initiated coverage on shares of ManpowerGroup in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $114.00 price target on the stock. Finally, Zacks Investment Research lowered shares of ManpowerGroup from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $94.64.
Shares of NYSE MAN traded up $0.51 during midday trading on Thursday, hitting $94.83. The company’s stock had a trading volume of 15,450 shares, compared to its average volume of 597,859. The company’s fifty day simple moving average is $91.17. ManpowerGroup has a one year low of $61.57 and a one year high of $97.26. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.38. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 3.83 and a beta of 1.55.
ManpowerGroup (NYSE:MAN) last posted its earnings results on Thursday, April 18th. The business services provider reported $1.39 earnings per share for the quarter, topping the Zacks’ 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 quarter in the prior year, the firm posted $1.72 EPS. As a group, analysts expect that ManpowerGroup will post 7.84 EPS for the current year.
The company also recently announced a semiannual dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were issued a dividend of $1.09 per share. This represents a yield of 2.43%. The ex-dividend date was Friday, May 31st. This is a positive change from ManpowerGroup’s previous semiannual dividend of $1.01. ManpowerGroup’s dividend payout ratio is 24.36%.
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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