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ManpowerGroup Inc. (MAN) Downgraded by Deutsche Bank to “Hold”
December 9th, 2015 - 0 comments - Filed Under - by Thomas Dobrow
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ManpowerGroup logoManpowerGroup Inc. (NYSE:MAN) was downgraded by research analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, The Fly reports.
In other ManpowerGroup news, Director Edward J. Zore sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $92.54, for a total transaction of $925,400.00. Following the transaction, the director now owns 35,417 shares in the company, valued at approximately $3,277,489.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Hans Leentjes sold 7,750 shares of the business’s stock in a transaction that occurred on Monday, November 23rd. The stock was sold at an average price of $90.53, for a total value of $701,607.50. Following the transaction, the executive vice president now owns 2,702 shares in the company, valued at approximately $244,612.06. The disclosure for this sale can be found here.
Other research analysts have also issued reports about the company. Zacks Investment Research raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Monday, November 2nd. Barclays reissued an “overweight” rating and issued a $100.00 price objective (down from $105.00) on shares of ManpowerGroup in a report on Friday, October 23rd. Piper Jaffray increased their price objective on ManpowerGroup from $104.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Credit Suisse reissued a “buy” rating and issued a $97.00 price objective (down from $100.00) on shares of ManpowerGroup in a report on Thursday, October 22nd. Finally, RBC Capital cut their price objective on ManpowerGroup from $99.00 to $98.00 and set a “sector perform” rating on the stock in a report on Thursday, October 22nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $101.71.
Shares of ManpowerGroup (NYSE:MAN) opened at 88.55 on Wednesday. The company’s 50-day moving average is $89.70 and its 200 day moving average is $88.61. The firm has a market capitalization of $6.52 billion and a P/E ratio of 16.91. ManpowerGroup has a 52-week low of $63.16 and a 52-week high of $96.87.
ManpowerGroup (NYSE:MAN) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The firm earned $5 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the prior year, the company posted $1.61 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts expect that ManpowerGroup will post $5.27 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, November 27th. This represents a $3.20 dividend on an annualized basis and a yield of 3.61%.