Zacks: Kelly Services, Inc. (KELYA) Given Consensus Rating of “Strong Buy” by Brokerages
Shares of Kelly Services, Inc. (NASDAQ:KELYA) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus price target of $34.00 for the company and are anticipating that the company will post $0.88 EPS for the current quarter, according to Zacks. Zacks has also assigned Kelly Services an industry rank of 61 out of 257 based on the ratings given to related companies.
Several equities research analysts have weighed in on the company. ValuEngine cut Kelly Services from a “hold” rating to a “sell” rating in a research note on Thursday. BidaskClub cut Kelly Services from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Finally, Zacks Investment Research raised Kelly Services from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.18. Kelly Services had a return on equity of 7.48% and a net margin of 1.17%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities analysts predict that Kelly Services will post 2.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.30 annualized dividend and a yield of 1.29%. Kelly Services’s payout ratio is currently 13.64%.
Large investors have recently made changes to their positions in the business. Sei Investments Co. boosted its position in shares of Kelly Services by 384.8% during the second quarter. Sei Investments Co. now owns 5,759 shares of the business services provider’s stock valued at $129,000 after buying an additional 4,571 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Kelly Services during the second quarter valued at approximately $161,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Kelly Services in the second quarter valued at approximately $186,000. Paloma Partners Management Co purchased a new stake in shares of Kelly Services in the second quarter valued at approximately $219,000. Finally, Commonwealth Bank of Australia purchased a new stake in shares of Kelly Services in the third quarter valued at approximately $242,000. Institutional investors and hedge funds own 66.21% of the company’s stock.
Kelly Services Company Profile
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions (GTS), and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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