Adecco (OTCMKTS:AHEXY) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Adecco (OTCMKTS:AHEXY) released its quarterly earnings results on Thursday. The business services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05, Zacks reports. The business had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $6.83 billion. Adecco had a net margin of 1.25% and a return on equity of 12.78%.

Adecco Stock Up 5.0%

Adecco stock opened at $14.58 on Friday. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.06 and a quick ratio of 1.06. Adecco has a fifty-two week low of $8.98 and a fifty-two week high of $16.73. The firm has a fifty day moving average price of $11.23 and a two-hundred day moving average price of $12.01.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AHEXY. Zacks Research upgraded shares of Adecco from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. UBS Group lowered Adecco from a “hold” rating to a “sell” rating in a report on Monday, May 18th. BNP Paribas Exane upgraded Adecco from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Morgan Stanley lowered Adecco from a “cautious” rating to an “underweight” rating in a report on Tuesday, June 9th. Finally, Citigroup downgraded Adecco from a “strong-buy” rating to a “neutral” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Adecco currently has a consensus rating of “Hold”.

About Adecco

Adecco Group AG is a global human resources and workforce solutions provider headquartered in Zurich, Switzerland. The company specializes in temporary staffing, permanent placement, career transition, and talent development services. Its core business activities include matching job seekers with client companies, managing contingent workforce solutions, and offering consulting services related to workforce management and organizational effectiveness.

Founded in 1996 through the merger of the Swiss companies Adia Interim and ECCO, Adecco has grown into one of the world’s largest staffing firms.