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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