NEW YORK (TheStreet) -- Shares of ManpowerGroup (MAN) - Get Report were soaring 9.7% to $79.98 on heavy trading volume late Friday afternoon after the company posted better-than-expected results for the 2016 third quarter.
Before the market open, the Milwaukee-based provider of workforce solutions and services reported earnings of $1.87 per diluted share, exceeding analysts' forecasts of $1.71 per share.
Revenue for the period was $5.09 billion, while analysts were looking for revenue of $4.99 billion.
The company said results were impacted by a stronger U.S. dollar during the quarter.
"We executed well in the third quarter despite continued soft and uneven market conditions globally. This slow growth environment results in our services and solutions becoming increasingly more attractive to companies that need operational and strategic flexibility," CEO Jonas Prising said in a statement.
For the fourth quarter, Manpower sees earnings per diluted share between $1.65 and $1.73 compared to Wall Street's estimates of $1.64 per share.
More than 1.41 million of the company's shares changed hands so far today vs. its average 30-day volume of 634,884 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and good cash flow from operations.
The team believes its strengths outweigh the fact that the company shows low profit margins.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MAN