StockNews.com lowered the shares of Kelly Services (NASDAQ:KELYA – Free Report) from a buy rating to a hold rating in a research report published Friday morning.
Separately, Barrington Research reiterated an outperform rating and set a $29.00 price target on Kelly Services stock in a report on Tuesday, May 28.
Check out our latest analysis on Kelly Services
Kelly Services shares rise 0.3%
KELYA shares opened at $19.43 on Friday. The company has a 50-day moving average of $21.65 and a 200-day moving average of $22.63. The company 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. Kelly Services has a 52-week low of $16.85 and a 52-week high of $25.27.
Kelly Services (NASDAQ:KELYA – Get Free Report) last released its quarterly earnings results on Thursday, August 8. The business services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.18. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Kelly Services posted a return on equity of 6.87% and a net margin of 1.11%. The company’s revenue declined 13.1% year-over-year. During the same period last year, the company generated earnings per share of $0.36. Analysts expect Kelly Services to report earnings per share of $2.16 for the current fiscal year.
Dividend announcement from Kelly Services
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will receive a dividend of $0.075. This represents a dividend of $0.30 on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Wednesday, August 21st. Kelly Services’ dividend payout ratio (DPR) is currently 21.58%.
Institutional trading with Kelly Services
A number of hedge funds and other institutional investors have recently made changes to their holdings in KELYA. Dimensional Fund Advisors LP increased its holdings in Kelly Services by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider’s stock worth $57,972,000 after acquiring an additional 21,230 shares in the last quarter. Boston Partners acquired a new stake in Kelly Services in the first quarter valued at $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 worth $14,620,000 after acquiring an additional 180,238 shares in the last quarter. 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 during the same period. 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 last quarter. Institutional investors own 76.34% of the company’s stock.
Kelly Services Company Profile
(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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