Kelly Services, Inc. is forecast to report earnings of $0.36 per share for Q3 2024 (NASDAQ:KELYA)

Kelly Services, Inc. (NASDAQ:KELYA – Free Report) – Equities analysts at Sidoti Csr raised their third quarter 2024 earnings per share (EPS) estimates for Kelly Services in a research note issued to investors on Friday, August 9. Sidoti Csr analyst M. Riddick now expects the business services provider to report earnings per share of $0.36 for the quarter, up from their previous estimate of $0.29. The consensus estimate for Kelly Services’ current full year earnings is $2.16 per share. Sidoti Csr also issued estimates for Kelly Services’ fourth quarter 2024 earnings of $0.72 EPS.

Other research analysts have also recently issued reports on the stock. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday. Barrington Research reiterated an “outperform” rating and set a $29.00 price target on Kelly Services in a report on Tuesday, May 28.

Check out our latest stock report on Kelly Services

Price development at Kelly Services

NASDAQ KELYA opened at $19.43 on Monday. Kelly Services has a 1-year low of $16.85 and a 1-year high of $25.27. The stock has a market cap of $690.19 million, a P/E ratio of 13.98, a PEG ratio of 0.80 and a beta of 1.21. The company’s 50-day moving average is $21.65 and its 200-day moving average is $22.63.

Kelly Services (NASDAQ:KELYA – Get Free Report) last released its quarterly earnings results on Thursday, August 8. The business services provider reported earnings per share of $0.71 for the quarter, beating the consensus estimate of $0.53 by $0.18. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company generated earnings per share of $0.36. The company’s revenue declined 13.1% compared to the year-ago quarter.

Dividend announcement from Kelly Services

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will receive a dividend of $0.075 per share, which represents an annualized dividend of $0.30 and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, August 21st. Kelly Services’ payout ratio is 21.58%.

Hedge funds comment on Kelly Services

Several large investors have recently changed their holdings in KELYA. Dimensional Fund Advisors LP increased its holdings in Kelly Services by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider’s stock valued at $57,972,000 after acquiring an additional 21,230 shares during the same period. Boston Partners acquired a new stake in Kelly Services in the first quarter valued at about $18,618,000. American Century Companies Inc. increased its holdings in Kelly Services by 35.9% in the second quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock valued at $14,620,000 after acquiring an additional 180,238 shares during the same period. LSV Asset Management increased its holdings in Kelly Services by 5.2% in the second quarter. LSV Asset Management now owns 615,729 shares of the business services provider’s stock valued at $13,183,000 after purchasing an additional 30,300 shares in the last quarter. Finally, Foundry Partners LLC increased its stake in Kelly Services by 21.7% in the 2nd quarter. Foundry Partners LLC now owns 183,690 shares of the business services provider’s stock valued at $3,933,000 after purchasing an additional 32,770 shares during the same period. Institutional investors own 76.34% of the company’s stock.

About Kelly Services

(Get free report)

Kelly Services, Inc., together with its subsidiaries, provides staffing solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment provides staffing, results-oriented and permanent placement services in the areas of administration, accounting and finance, light manufacturing, call center staffing and other staffing solutions.

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