Kelly Services (NASDAQ:KELYA) Issues Quarterly Earnings Results

Kelly Services (NASDAQ:KELYA) issued its earnings results on Thursday. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04), Zacks reports. Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion.

Kelly Services Stock Performance

Shares of NASDAQ KELYA traded up $0.17 during midday trading on Friday, hitting $9.87. 579,837 shares of the stock traded hands, compared to its average volume of 362,076. The firm has a 50-day moving average of $9.11 and a two-hundred day moving average of $9.48. The firm has a market capitalization of $337.67 million, a P/E ratio of -1.30, a PEG ratio of 0.72 and a beta of 0.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.54 and a current ratio of 1.59. Kelly Services has a one year low of $7.98 and a one year high of $14.94.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, May 18th. Kelly Services’s dividend payout ratio is presently -3.95%.

Analysts Set New Price Targets

Several analysts have commented on the company. Wall Street Zen upgraded Kelly Services from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Barrington Research lowered their price target on Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Zacks Research raised Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Kelly Services in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.00.

Insider Buying and Selling at Kelly Services

In related news, CEO Christopher D. Layden bought 10,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were bought at an average cost of $8.80 per share, with a total value of $88,880.00. Following the acquisition, the chief executive officer owned 382,513 shares in the company, valued at $3,366,114.40. This trade represents a 2.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Christopher Hunt bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average cost of $9.43 per share, for a total transaction of $94,300.00. Following the completion of the acquisition, the director owned 25,976 shares in the company, valued at $244,953.68. This trade represents a 62.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 35,200 shares of company stock worth $327,137 over the last three months. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Kelly Services

Institutional investors have recently bought and sold shares of the stock. Quarry LP raised its holdings in Kelly Services by 173.2% in the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,249 shares during the period. CANADA LIFE ASSURANCE Co bought a new position in Kelly Services in the 4th quarter worth $30,000. Meeder Asset Management Inc. bought a new position in Kelly Services in the 4th quarter worth $42,000. Tower Research Capital LLC TRC raised its holdings in Kelly Services by 83.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after purchasing an additional 1,967 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in Kelly Services by 14.7% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 10,706 shares of the business services provider’s stock worth $94,000 after purchasing an additional 1,369 shares during the period. 76.34% of the stock is owned by institutional investors.

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.