ManpowerGroup Inc.
MAN · NYSE
Analyst ratings
buy · 7 ratings
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| July 20, 2026 | Barclays | Maintains | Equal-Weight | $47.00 |
| July 17, 2026 | BMO Capital | Maintains | Outperform | $63.00 |
| July 17, 2026 | Goldman Sachs | Maintains | Neutral | $57.00 |
| July 17, 2026 | Truist Securities | Maintains | Hold | $50.00 |
| July 17, 2026 | UBS | Maintains | Neutral | $55.00 |
| July 17, 2026 | Baird | Maintains | Outperform | $72.00 |
| July 14, 2026 | UBS | Maintains | Neutral | $41.00 |
| April 17, 2026 | UBS | Maintains | Neutral | $33.00 |
| April 17, 2026 | Truist Securities | Maintains | Hold | $34.00 |
| April 17, 2026 | Baird | Maintains | Outperform | $45.00 |
| April 13, 2026 | Barclays | Maintains | Equal-Weight | $30.00 |
| March 18, 2026 | Goldman Sachs | Upgrades | Neutral | $30.00 |
| March 6, 2026 | Barclays | Maintains | Equal-Weight | $35.00 |
| February 3, 2026 | Goldman Sachs | Maintains | Sell | $30.00 |
| January 16, 2026 | UBS | Maintains | Neutral | $32.00 |
| November 21, 2025 | Goldman Sachs | Maintains | Sell | $29.00 |
| October 20, 2025 | JP Morgan | Maintains | Neutral | $42.00 |
| October 17, 2025 | Goldman Sachs | Maintains | Sell | $33.00 |
| October 17, 2025 | UBS | Maintains | Neutral | $39.00 |
| October 17, 2025 | Barclays | Maintains | Equal-Weight | $42.00 |
| October 13, 2025 | Truist Securities | Maintains | Hold | $44.00 |
| October 8, 2025 | UBS | Maintains | Neutral | $40.00 |
Sustainability of the Q2 2026 earnings recovery and profit turnaround
ManpowerGroup's Q2 2026 results represent a decisive inflection point, with net earnings swinging from a $67.1 million loss to a $53.5 million profit, revenues climbing 8% to $4.86 billion, and Q3 EPS guidance of $0.96–$1.06 well above the $0.88 consensus. The Global Strategic Transformation Program targets $200 million in permanent cost savings by 2028, supporting durable improvement.
Despite the headline profit recovery, Truist and UBS maintain Hold and Neutral ratings, warning that sustaining gains across future quarters remains unproven. Drastic cash drawdowns, persistent competitive pressures, and thin margins raise serious doubts about whether the turnaround is structurally durable or merely a one-quarter rebound.
Impact of foreign exchange headwinds and business divestitures on EPS
Baird analyst Mark Marcon raised his price target from $45 to $72, maintaining an Outperform rating after Q2 results. The strong organic, days-adjusted constant-currency revenue growth of approximately 6% for Q3 demonstrates that core operational performance remains robust, with FX pressures being manageable rather than structurally damaging.
UBS raised its price target to $55 while maintaining a Neutral rating, explicitly warning that foreign exchange swings and recent business divestitures are expected to pressure EPS. The Q3 guidance itself embeds a 2-cent unfavorable currency impact and a high 44% effective tax rate, limiting the upside from otherwise solid operating trends.
AI-driven demand and the Experis tech staffing growth opportunity
Experis, ManpowerGroup's tech staffing brand, reports a global tech Net Employment Outlook of 35% for Q3 2026, with particularly strong AI-related and human-centric skills demand across the U.S., U.K., Brazil, Vietnam, and India. This positions ManpowerGroup to capture higher-value, higher-margin tech and AI-focused staffing even while some regions lag.
ManpowerGroup's own Talent Solutions research reveals that while over 90% of companies now use AI in hiring, fewer than 5% achieve truly transformational results. AI is largely being layered onto outdated, fragmented workflows rather than redesigning talent operations, suggesting the AI-driven demand narrative may be overstated and slow to translate into meaningful revenue growth.