ManpowerGroup Analysts Boost Their Forecasts After Strong Q2 Results

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: Photo via Shutterstock