Kelly Services, Inc. (NASDAQ:KELYA – Free Report) – Analysts at Noble Financial raised their third quarter 2024 earnings estimates for Kelly Services in a research note issued on Monday, August 12. Noble Financial analyst J. Gomes now expects the business services provider to report earnings per share of $0.60 for the quarter, up from their previous forecast of $0.45. The consensus estimate for Kelly Services’ current full year earnings is $2.16 per share. Noble Financial also issued estimates for Kelly Services’ fourth quarter 2024 earnings of $0.84 per share, fiscal 2024 earnings of $2.71 per share and fiscal 2025 earnings of $3.17 per share.
Kelly Services (NASDAQ:KELYA – Get Free Report) last announced 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 $0.56 by $0.15. The company had revenue of $1.06 billion for the quarter, compared to analyst expectations of $1.05 billion. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. The company’s revenue for the quarter decreased 13.1% compared to the year-ago quarter. In the year-ago quarter, the company posted earnings per share of $0.36.
Several other equities analysts have also commented on KELYA. Barrington Research reiterated an “outperform” rating and issued a $29.00 price target on shares of Kelly Services in a research report on Tuesday, May 28. StockNews.com downgraded their rating on shares of Kelly Services from a “buy” to a “hold” in a research report on Friday, August 9.
Check out our latest analysis on KELYA
Price development at Kelly Services
KELYA shares opened at $20.40 on Wednesday. The stock has a market cap of $724.65 million, a P/E ratio of 14.68, a PEG ratio of 0.80 and a beta of 1.21. The company has a 50-day moving average price of $21.57 and a 200-day moving average price of $22.61. Kelly Services has a one-year low of $16.85 and a one-year high of $25.27.
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 1.47%. The ex-dividend date is Wednesday, August 21st. Kelly Services’ payout ratio is currently 21.58%.
Hedge funds comment on Kelly Services
Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position 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 worth $57,972,000 after acquiring an additional 21,230 shares during the same period. Boston Partners bought a new position in Kelly Services in the first quarter valued at about $18,618,000. American Century Companies Inc. increased its position 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 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 second 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 in the last quarter. 76.34% of the shares are owned by institutional investors.
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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