ManpowerGroup Bears The Brunt Of Macro Woes Amid Weakness In Europe, Analyst Says Tough To Recommend This Name
Portfolio Pulse from Nabaparna Bhattacharya
ManpowerGroup's (NYSE:MAN) Q3 FY23 results showed a 2.6% YoY decline in revenues to $4.676 billion, missing the analyst consensus. BMO Capital Markets analyst Jeffrey M. Silber reiterated a Market Perform rating on the company and lowered the price target to $79 from $88. Silber also lowered the FY23 revenue estimate to $18.851 billion from $19.160 billion and projected FY23 EPS of $5.78, down from $5.92. The company's performance was negatively impacted by its exposure to Europe, particularly Northern Europe.
October 20, 2023 | 7:14 pm
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ManpowerGroup's Q3 FY23 results missed analyst expectations, leading to a lowered price target and FY23 revenue estimate by BMO Capital Markets. The company's exposure to Europe, particularly Northern Europe, negatively impacted its performance.
ManpowerGroup's Q3 FY23 results missed analyst expectations, which led BMO Capital Markets to lower its price target and FY23 revenue estimate for the company. The company's performance was negatively impacted by its exposure to Europe, particularly Northern Europe, which is experiencing economic difficulties. This could potentially lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100