Kelly Services, Inc. (NASDAQ:KELYA) – Northcoast Research decreased their Q3 2019 earnings estimates for shares of Kelly Services in a research note issued to investors on Thursday, August 8th. Northcoast Research analyst J. Healy now forecasts that the business services provider will post earnings of $0.40 per share for the quarter, down from their prior forecast of $0.59. Northcoast Research also issued estimates for Kelly Services’ Q4 2019 earnings at $0.64 EPS, FY2019 earnings at $2.29 EPS and FY2020 earnings at $2.30 EPS.
A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research note on Tuesday. Noble Financial began coverage on shares of Kelly Services in a research note on Tuesday, July 30th. They set an “outperform” rating and a $32.00 price target on the stock. ValuEngine raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. BidaskClub raised shares of Kelly Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, TheStreet raised shares of Kelly Services from a “c+” rating to a “b” rating in a research note 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 assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $32.33.
Shares of KELYA opened at $28.00 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.10 billion, a PE ratio of 12.33 and a beta of 0.76. The firm has a fifty day moving average price of $26.86. Kelly Services has a 1 year low of $19.21 and a 1 year high of $28.91.
Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.16. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Kelly Services had a net margin of 2.09% and a return on equity of 8.41%. Kelly Services’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS.
Large investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. boosted its stake in shares of Kelly Services by 7.1% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 248,680 shares of the business services provider’s stock valued at $6,513,000 after buying an additional 16,550 shares during the last quarter. Laurion Capital Management LP bought a new position in Kelly Services during the second quarter worth $247,000. BlackRock Inc. lifted its stake in Kelly Services by 3.5% during the second quarter. BlackRock Inc. now owns 4,820,333 shares of the business services provider’s stock worth $126,245,000 after purchasing an additional 162,155 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Kelly Services by 144.9% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 26,200 shares of the business services provider’s stock worth $686,000 after purchasing an additional 15,500 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in Kelly Services by 45.5% during the second quarter. Commonwealth Bank of Australia now owns 14,700 shares of the business services provider’s stock worth $384,000 after purchasing an additional 4,600 shares during the last quarter. Institutional investors own 66.50% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th will be issued a $0.075 dividend. The ex-dividend date is Monday, August 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.07%. Kelly Services’s dividend payout ratio (DPR) is 13.22%.
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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