ManpowerGroup (NYSE:MAN) Reaches New 12-Month Low – What’s Next?

Shares of ManpowerGroup Inc. (NYSE:MAN) hit a new 52-week low on Wednesday . The stock traded as low as $54.88 and last traded at $55.28, with a volume of 36209 shares. The stock had previously closed at $56.58.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MAN. Truist Financial cut their price target on ManpowerGroup from $78.00 to $74.00 and set a “hold” rating for the company in a research note on Friday, October 18th. BMO Capital Markets reduced their target price on shares of ManpowerGroup from $87.00 to $71.00 and set a “market perform” rating for the company in a research note on Friday, October 18th. Barclays dropped their price target on shares of ManpowerGroup from $70.00 to $55.00 and set an “underweight” rating on the stock in a research note on Friday, January 3rd. Finally, UBS Group reduced their price objective on shares of ManpowerGroup from $78.00 to $71.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.00.

ManpowerGroup Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $2.57 billion, a P/E ratio of 69.23 and a beta of 1.46. The business has a 50 day moving average price of $60.72 and a 200 day moving average price of $67.28.

ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Thursday, October 17th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. ManpowerGroup had a return on equity of 11.05% and a net margin of 0.21%. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.48 billion. On average, analysts predict that ManpowerGroup Inc. will post 4.55 earnings per share for the current year.

ManpowerGroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $1.545 per share. This represents a $6.18 annualized dividend and a dividend yield of 11.30%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from ManpowerGroup’s previous quarterly dividend of $1.01. ManpowerGroup’s dividend payout ratio (DPR) is presently 389.87%.

Insider Activity at ManpowerGroup

In other ManpowerGroup news, CFO John T. Mcginnis bought 8,000 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average cost of $62.28 per share, for a total transaction of $498,240.00. Following the completion of the purchase, the chief financial officer now owns 70,639 shares in the company, valued at $4,399,396.92. This represents a 12.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ManpowerGroup

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of ManpowerGroup by 248.3% in the third quarter. Blue Trust Inc. now owns 526 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 375 shares in the last quarter. Headlands Technologies LLC bought a new position in ManpowerGroup in the 2nd quarter valued at $47,000. Capital Performance Advisors LLP acquired a new stake in shares of ManpowerGroup in the 3rd quarter valued at $54,000. Abich Financial Wealth Management LLC raised its position in shares of ManpowerGroup by 34.8% during the second quarter. Abich Financial Wealth Management LLC now owns 786 shares of the business services provider’s stock worth $55,000 after acquiring an additional 203 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of ManpowerGroup by 400.3% during the third quarter. Venturi Wealth Management LLC now owns 1,666 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 1,333 shares during the period. 98.03% of the stock is owned by institutional investors.

About ManpowerGroup

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.