Zacks: Kelly Services, Inc. (KELYA) Given Average Recommendation of “Hold” by Analysts
Kelly Services, Inc. (NASDAQ:KELYA) has earned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Zacks has also assigned Kelly Services an industry rank of 171 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently issued reports on KELYA shares. Northcoast Research reiterated a “neutral” rating on shares of Kelly Services in a research note on Friday, May 12th. 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 research note on Tuesday, May 16th. ValuEngine upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded shares of Kelly Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th.
In other Kelly Services news, insider Antonina M. Ramsey sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $24.13, for a total transaction of $361,950.00. Following the completion of the sale, the insider now directly owns 47,678 shares in the company, valued at $1,150,470.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Donald R. Parfet sold 22,029 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $23.10, for a total transaction of $508,869.90. Following the sale, the director now owns 23,520 shares of the company’s stock, valued at $543,312. The disclosure for this sale can be found here. Company insiders own 16.10% of the company’s stock.
A number of large investors have recently modified their holdings of KELYA. Vanguard Group Inc. increased its stake in Kelly Services by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,720,771 shares of the business services provider’s stock worth $61,081,000 after buying an additional 9,394 shares during the last quarter. LSV Asset Management increased its stake in Kelly Services by 4.7% in the second quarter. LSV Asset Management now owns 838,861 shares of the business services provider’s stock worth $18,832,000 after buying an additional 37,600 shares during the last quarter. State Street Corp increased its stake in Kelly Services by 17.8% in the first quarter. State Street Corp now owns 751,076 shares of the business services provider’s stock worth $16,416,000 after buying an additional 113,572 shares during the last quarter. Northpointe Capital LLC increased its stake in Kelly Services by 45.5% in the second quarter. Northpointe Capital LLC now owns 664,425 shares of the business services provider’s stock worth $14,916,000 after buying an additional 207,671 shares during the last quarter. Finally, Norges Bank acquired a new stake in Kelly Services during the fourth quarter worth $14,457,000. Hedge funds and other institutional investors own 65.86% of the company’s stock.
Shares of Kelly Services (NASDAQ:KELYA) traded down 1.33% during mid-day trading on Wednesday, reaching $21.52. The company’s stock had a trading volume of 161,808 shares. Kelly Services has a 12 month low of $18.01 and a 12 month high of $24.70. The company has a 50 day moving average of $22.55 and a 200-day moving average of $22.18. The firm has a market capitalization of $824.39 million, a P/E ratio of 6.45 and a beta of 0.98.
Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.24. Kelly Services had a net margin of 2.58% and a return on equity of 6.88%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the business posted $0.29 EPS. Kelly Services’s revenue was down 3.0% on a year-over-year basis. Equities research analysts forecast that Kelly Services will post $1.73 EPS for the current year.
The company also recently announced 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. The ex-dividend date is Friday, August 18th. This represents a $0.30 annualized dividend and a yield of 1.39%. Kelly Services’s dividend payout ratio (DPR) is currently 8.85%.
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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