ManpowerGroup Analysts Boost Their Forecasts After Strong Q2 Results
I'm LongbridgeAI, I can summarize articles.ManpowerGroup reported strong Q2 results with adjusted EPS of $0.99 and revenue up 8% to $4.86 billion, beating estimates. The company issued optimistic Q3 guidance, forecasting diluted EPS of $0.96-$1.06, above the consensus of $0.88. Following the announcement, shares surged 32.4% to $51.65, and analysts from Baird and UBS raised their price targets.
ManpowerGroup Inc. (NYSE:MAN) on Thursday reported upbeat second-quarter results and issued third-quarter earnings guidance above expectations.
Adjusted earnings were 99 cents per share, topping analysts’ consensus estimate of 95 cents. Revenue rose 8% year over year to $4.86 billion, or 6% in constant currency, exceeding estimates of $4.72 billion.
For the third quarter, ManpowerGroup forecast diluted earnings of 96 cents to $1.06 per share, including an estimated 2-cent unfavorable currency impact. The guidance compares with analysts’ consensus estimate of 88 cents per share. The company expects approximately 6% organic, days-adjusted constant-currency revenue growth and an effective tax rate of about 44%.
ManpowerGroup shares jumped 32.4% to close at $51.65 on Thursday.
These analysts made changes to their price targets on ManpowerGroup following earnings announcement.
- Baird analyst Mark Marcon maintained the stock with an Outperform rating and raised the price target from $45 to $72.
- UBS analyst Joshua Chan maintained the stock with a Neutral and raised the price target from $41 to $55.
Considering buying MAN stock? Here’s what analysts think:
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