Manpower's 2Q EPS Up 14% Due to Efficiency Gains, Growth in Offshore Markets; Raising Our FVE
We plan to raise our fair value estimate for no-moat Manpower to roughly $100 per share from $95 mainly to reflect our higher earnings outlook. This reflects our greater confidence in Manpower's organic revenue growth as well as the sustainability of efficiency gains achieved during a prolonged period of sluggish growth in its largest markets (France and the U.S.) and the company’s historical reliance on larger, more cost-conscious temporary staffing customers. Staffing tends to be a highly pro-...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.
We have operations in 27 countries.
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