Kelly Services, Inc. (NASDAQ:KELYA) Declares $0.08 Quarterly Dividend

Kelly Services, Inc. (NASDAQ:KELYA) announced a quarterly dividend on Tuesday, May 5th. Shareholders of record on Monday, May 18th will be given a dividend of 0.075 per share by the business services provider on Tuesday, June 2nd. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, May 18th.

Kelly Services has raised its dividend payment by an average of 0.3%annually over the last three years. Kelly Services has a payout ratio of 10.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kelly Services to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 15.5%.

Kelly Services Stock Down 2.1%

NASDAQ KELYA opened at $9.60 on Friday. The stock has a fifty day moving average of $9.15 and a 200-day moving average of $9.38. The stock has a market capitalization of $328.44 million, a P/E ratio of -1.26, a price-to-earnings-growth ratio of 0.74 and a beta of 0.79. Kelly Services has a 52 week low of $7.98 and a 52 week high of $14.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Thursday, May 7th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, equities research analysts forecast that Kelly Services will post 1.01 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on KELYA. Wall Street Zen raised Kelly Services from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Weiss Ratings cut Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Finally, Barrington Research reduced their price target on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.00.

Kelly Services Company Profile

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.