Zacks: Kelly Services, Inc. (NASDAQ:KELYA) Given Average Rating of “Hold” by Brokerages
Kelly Services, Inc. (NASDAQ:KELYA) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Zacks has also given Kelly Services an industry rank of 171 out of 265 based on the ratings given to its competitors.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Kelly Services from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a report on Tuesday, May 16th. ValuEngine upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Kelly Services from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. Finally, Northcoast Research restated a “neutral” rating on shares of Kelly Services in a report on Friday, May 12th.
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Kelly Services (NASDAQ KELYA) traded up 3.18% during trading on Wednesday, hitting $22.74. 232,514 shares of the company’s stock were exchanged. The company has a market cap of $870.65 million, a price-to-earnings ratio of 7.35 and a beta of 0.98. Kelly Services has a 52-week low of $18.01 and a 52-week high of $24.70. The firm has a 50 day moving average price of $22.58 and a 200 day moving average price of $22.19.
Kelly Services (NASDAQ:KELYA) last released its earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.24. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Kelly Services had a net margin of 2.37% and a return on equity of 6.39%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.29 EPS. On average, equities research analysts predict that Kelly Services will post $1.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, August 18th. Kelly Services’s dividend payout ratio is presently 9.52%.
In related news, Director Donald R. Parfet sold 22,029 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $23.10, for a total value of $508,869.90. Following the transaction, the director now owns 23,520 shares of the company’s stock, valued at approximately $543,312. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Antonina M. Ramsey sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $24.13, for a total transaction of $361,950.00. Following the completion of the transaction, the insider now directly owns 47,678 shares in the company, valued at approximately $1,150,470.14. The disclosure for this sale can be found here. Company insiders own 13.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Kelly Services during the second quarter valued at approximately $117,000. State of Alaska Department of Revenue increased its position in Kelly Services by 77.4% in the second quarter. State of Alaska Department of Revenue now owns 5,731 shares of the business services provider’s stock valued at $128,000 after buying an additional 2,501 shares in the last quarter. Mason Street Advisors LLC increased its position in Kelly Services by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,837 shares of the business services provider’s stock valued at $149,000 after buying an additional 449 shares in the last quarter. Victory Capital Management Inc. increased its position in Kelly Services by 34.6% in the first quarter. Victory Capital Management Inc. now owns 7,213 shares of the business services provider’s stock valued at $158,000 after buying an additional 1,856 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its position in Kelly Services by 3.3% in the first quarter. Eqis Capital Management Inc. now owns 10,937 shares of the business services provider’s stock valued at $239,000 after buying an additional 347 shares in the last quarter. 65.86% of the stock is currently owned by institutional investors.
About Kelly Services
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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