Staffing Stocks To Watch For Earnings This Week: MAN, TBI
Zacks Investment Research | Jul 18, 2016 09:36PM ET
Leaving behind the Brexit fear and its consequences as well as other global and domestic issues, investors are now focusing on the all important Q2 earnings, which is in its nascent stage with a handful of S&P 500 stocks having reported their results so far. Per the latest Zacks Earnings Trends report as of Jul 15, out of the 36 S&P 500 members that have come up with their quarterly numbers, approximately 66.7% have posted positive earnings surprises, while 41.7% have come up with top-line beats.
According to the report, earnings for the 36 S&P 500 companies that have reported so far are down 3.9% from the same period last year, while revenues have dipped 0.1%.
The report further projects that earnings for the total S&P 500 companies will decline 5.4% from the year-ago period, and total revenue will fall 0.5%. We observe that this will be the fifth straight quarter, if the index witnesses a decline in earnings. Well, as the earnings season gradually gets into full swing, the picture would be much more prominent. So, do not be in a rush to count your chickens before they hatch.
The performance of the index is not restricted to a single sector, and of the 16 Zacks sectors, 9 are expected to witness an earnings drop in Q2, with Basic Materials, Industrial Products, Oil/Energy, Technology and Transportation being a big drag. However, the Business Services sector is showing earnings and revenue growth of 0.1% and 7.0%, respectively.
Let’s see what might be in store for these Business Services stocks when they release earnings results this week.
ManpowerGroup, Inc. (NYSE:MAN) , the global leader in the employment services industry, is set to report second-quarter 2016 results before the opening bell on Jul 21, 2016. Notably, the company beat the Zacks Consensus Estimate in each of the last four quarters, with an average earnings surprise of 10%.
MANPOWER INC WI Price and EPS Surprise/h3
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