Manpower: Stock Sinks despite strong 1Q Results on Fears of Overheating Labor Markets; Raising FVE
We expect to raise our fair value estimate for no-moat Manpower to roughly $110 from $106 following generally strong first-quarter results that included moderate unexpected pressure on temporary staffing gross margins. The stock price skidded 15% on the day in response to the results, however, which we consider an overreaction. Manpower remains well-positioned to benefit from a cyclical pickup in global economic growth as well as favorable secular trends in key regional markets. Benefits from lo...ManpowerGroup provides a range of workforce solutions and services, which include recruitment and assessment, training and development, career management, outsourcing, and workforce consulting. The company's family of brands and offerings includes Manpower, Experis, Right Management, and ManpowerGroup Solutions. The company's portfolio of recruitment services includes permanent, temporary and contract recruitment of professionals, as well as administrative and industrial positions. All of these services are provided under its Manpower and Experis brands. The company provides services under its Experis brand, particularly in the areas of Information Technology, Engineering, and Finance.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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