Zacks Investment Research lowered shares of Kelly Services, Inc. (NASDAQ:KELYA) from a buy rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “KELLY SERVICES, INC. provides temporary office clerical, marketing, professional, technical, light industrial, home care services, management services and other business services to a diversified group of customers through offices located in major cities of the United States, Australia, Canada, Denmark, France, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Russia, Spain, Switzerland and United Kingdom. Kelly Temporary Services provides office clerical, marketing, professional, technical, semi-skilled light industrial and management services. “
KELYA has been the subject of several other research reports. BidaskClub cut shares of Kelly Services from a sell rating to a strong sell rating in a research note on Monday, July 31st. ValuEngine upgraded shares of Kelly Services from a hold rating to a buy rating in a research note on Friday, August 11th. Finally, Northcoast Research restated a neutral rating on shares of Kelly Services in a research note on Friday, May 12th.
Shares of Kelly Services (NASDAQ:KELYA) opened at 21.37 on Tuesday. Kelly Services has a 1-year low of $18.01 and a 1-year high of $24.70. The firm has a market capitalization of $818.64 million, a P/E ratio of 6.40 and a beta of 0.98. The stock’s 50 day moving average is $22.45 and its 200 day moving average is $22.14.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.24. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Kelly Services had a net margin of 2.58% and a return on equity of 6.88%. Kelly Services’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Equities analysts predict that Kelly Services will post $1.73 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 22nd will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, August 18th. Kelly Services’s dividend payout ratio (DPR) is presently 8.85%.
In other news, Director Donald R. Parfet sold 22,029 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $23.10, for a total value of $508,869.90. Following the completion of the sale, the director now owns 23,520 shares in the company, valued at approximately $543,312. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.10% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Kelly Services during the second quarter valued at approximately $117,000. State of Alaska Department of Revenue boosted its stake in shares of Kelly Services by 77.4% in the second quarter. State of Alaska Department of Revenue now owns 5,731 shares of the business services provider’s stock valued at $128,000 after buying an additional 2,501 shares during the period. Mason Street Advisors LLC boosted its stake in shares of Kelly Services by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,837 shares of the business services provider’s stock valued at $149,000 after buying an additional 449 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Kelly Services by 34.6% in the first quarter. Victory Capital Management Inc. now owns 7,213 shares of the business services provider’s stock valued at $158,000 after buying an additional 1,856 shares during the period. Finally, Eqis Capital Management Inc. boosted its stake in shares of Kelly Services by 3.3% in the first quarter. Eqis Capital Management Inc. now owns 10,937 shares of the business services provider’s stock valued at $239,000 after buying an additional 347 shares during the period. Institutional investors own 64.53% of the company’s stock.
Kelly Services Company Profile
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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