Wall Street analysts forecast that Kelly Services, Inc. (NASDAQ:KELYA) will report earnings per share of $0.46 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Kelly Services’ earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.40. Kelly Services reported earnings per share of $0.56 in the same quarter last year, which would suggest a negative year-over-year growth rate of 17.9%. The business is scheduled to report its next earnings report on Wednesday, November 6th.
On average, analysts expect that Kelly Services will report full-year earnings of $2.28 per share for the current fiscal year, with EPS estimates ranging from $2.27 to $2.29. For the next fiscal year, analysts expect that the company will report earnings of $2.33 per share, with EPS estimates ranging from $2.30 to $2.35. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Kelly Services.
Kelly Services (NASDAQ:KELYA) last posted its earnings results on Wednesday, August 7th. The business services provider reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.16. Kelly Services had a net margin of 2.09% and a return on equity of 8.41%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the company posted $0.54 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year.
KELYA has been the topic of several analyst reports. ValuEngine raised shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Noble Financial initiated coverage on shares of Kelly Services in a report on Tuesday, July 30th. They set an “outperform” rating and a $32.00 price target on the stock. BidaskClub raised shares of Kelly Services from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Zacks Investment Research downgraded shares of Kelly Services from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, TheStreet raised shares of Kelly Services from a “c+” rating to a “b” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Kelly Services currently has an average rating of “Buy” and an average target price of $32.33.
Shares of Kelly Services stock traded up $0.01 during trading on Thursday, hitting $27.13. The company’s stock had a trading volume of 12,002 shares, compared to its average volume of 165,950. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.50 and a quick ratio of 1.50. The business’s fifty day moving average price is $26.91. The firm has a market capitalization of $1.11 billion, a P/E ratio of 11.95 and a beta of 0.76. Kelly Services has a 52 week low of $19.21 and a 52 week high of $28.91.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, August 19th. Kelly Services’s payout ratio is 13.22%.
In other Kelly Services news, insider James Polehna sold 1,784 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $27.42, for a total transaction of $48,917.28. Following the completion of the sale, the insider now directly owns 21,399 shares of the company’s stock, valued at $586,760.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of KELYA. Nuveen Asset Management LLC purchased a new position in shares of Kelly Services during the 2nd quarter valued at approximately $5,043,000. Victory Capital Management Inc. lifted its position in shares of Kelly Services by 16.7% during the 2nd quarter. Victory Capital Management Inc. now owns 98,460 shares of the business services provider’s stock valued at $2,579,000 after buying an additional 14,100 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Kelly Services by 89.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 17,527 shares of the business services provider’s stock valued at $459,000 after purchasing an additional 8,266 shares in the last quarter. Citadel Advisors LLC lifted its holdings in Kelly Services by 91.3% in the 2nd quarter. Citadel Advisors LLC now owns 49,441 shares of the business services provider’s stock valued at $1,295,000 after purchasing an additional 23,598 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Kelly Services by 69.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 31,758 shares of the business services provider’s stock valued at $832,000 after purchasing an additional 13,061 shares in the last quarter. Hedge funds and other institutional investors own 66.50% of the company’s stock.
About Kelly Services
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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