Kelly Services, Inc. (NASDAQ:KELYA) Expected to Post Earnings of $0.33 Per Share

Wall Street analysts predict that Kelly Services, Inc. (NASDAQ:KELYA) will announce earnings of $0.33 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Kelly Services’ earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.33. Kelly Services reported earnings of $0.41 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 19.5%. The business is expected to issue its next earnings report on Thursday, February 17th.

According to Zacks, analysts expect that Kelly Services will report full year earnings of $1.17 per share for the current fiscal year, with EPS estimates ranging from $1.13 to $1.21. For the next fiscal year, analysts anticipate that the business will report earnings of $1.95 per share, with EPS estimates ranging from $1.87 to $2.03. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Kelly Services.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Wednesday, November 10th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.25 billion. Kelly Services had a net margin of 2.20% and a return on equity of 4.13%. During the same quarter in the previous year, the business posted $0.29 earnings per share.

Separately, Zacks Investment Research upgraded Kelly Services from a “sell” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $27.00.

In other Kelly Services news, Director Terrence B. Larkin sold 1,850 shares of Kelly Services stock in a transaction that occurred on Thursday, December 23rd. The stock was sold at an average price of $17.19, for a total value of $31,801.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jane E. Dutton sold 2,974 shares of Kelly Services stock in a transaction that occurred on Monday, December 13th. The shares were sold at an average price of $17.33, for a total value of $51,539.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,824 shares of company stock worth $171,291. Corporate insiders own 2.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in shares of Kelly Services during the 2nd quarter valued at approximately $43,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Kelly Services during the 3rd quarter worth approximately $89,000. SG Americas Securities LLC acquired a new position in shares of Kelly Services during the 3rd quarter worth approximately $155,000. Metropolitan Life Insurance Co NY raised its position in shares of Kelly Services by 106,440.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 10,654 shares of the business services provider’s stock worth $255,000 after purchasing an additional 10,644 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Kelly Services during the 3rd quarter worth approximately $256,000. Institutional investors own 69.62% of the company’s stock.

Kelly Services stock opened at $17.69 on Friday. Kelly Services has a 1-year low of $15.89 and a 1-year high of $26.98. The firm has a market capitalization of $696.79 million, a PE ratio of 6.55 and a beta of 1.16. The company has a fifty day simple moving average of $17.62.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 8th. Investors of record on Wednesday, November 24th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Tuesday, November 23rd. Kelly Services’s dividend payout ratio is currently 7.41%.

About Kelly Services

Kelly Services, Inc engages in staffing and workforce solutions. It operates through the following segments: Americas Staffing, Global Talent Solutions, and International Staffing. The Americas Staffing segment delivers temporary staffing, as well as direct-hire placement services, in a number of specialty staffing services, including office, education, marketing, electronic assembly, light industrial, science, engineering, and information technology in United States, Puerto Rico, Canada, Mexico and Brazil.

Further Reading: Net Income

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