Kelly Services, Inc. (KELYA) Stock Rating Reaffirmed by Northcoast Research

Kelly Services, Inc. (NASDAQ:KELYA)‘s stock had its “neutral” rating restated by stock analysts at Northcoast Research in a report released on Friday, May 12th.

Separately, Zacks Investment Research upgraded Kelly Services from a “sell” rating to a “hold” rating in a research note on Wednesday, April 5th.

Shares of Kelly Services (NASDAQ:KELYA) traded down 1.03% during mid-day trading on Friday, reaching $22.16. 262,537 shares of the company’s stock traded hands. The company has a 50 day moving average of $22.92 and a 200 day moving average of $22.14. The company has a market cap of $848.44 million, a price-to-earnings ratio of 7.16 and a beta of 1.01. Kelly Services has a 12 month low of $18.01 and a 12 month high of $24.70.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, May 11th. The business services provider reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.14. Kelly Services had a return on equity of 4.67% and a net margin of 0.94%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $0.19 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts expect that Kelly Services will post $1.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 7th. Investors of record on Tuesday, May 23rd were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend was Friday, May 19th. Kelly Services’s payout ratio is currently 9.52%.

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In related news, insider Steven Shelby Armstrong sold 3,000 shares of the business’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $21.71, for a total value of $65,130.00. Following the sale, the insider now directly owns 36,832 shares in the company, valued at $799,622.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Antonina M. Ramsey sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $24.13, for a total value of $361,950.00. Following the completion of the sale, the insider now owns 47,678 shares in the company, valued at $1,150,470.14. The disclosure for this sale can be found here. Insiders sold 40,029 shares of company stock valued at $935,950 in the last ninety days. 16.10% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of KELYA. Systematic Financial Management LP increased its stake in shares of Kelly Services by 1.5% in the fourth quarter. Systematic Financial Management LP now owns 71,475 shares of the business services provider’s stock valued at $1,638,000 after buying an additional 1,070 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Kelly Services by 2.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 61,041 shares of the business services provider’s stock valued at $1,399,000 after buying an additional 1,378 shares during the last quarter. Martingale Asset Management L P increased its stake in shares of Kelly Services by 2.4% in the fourth quarter. Martingale Asset Management L P now owns 34,000 shares of the business services provider’s stock valued at $780,000 after buying an additional 800 shares during the last quarter. State Street Corp increased its stake in shares of Kelly Services by 9.3% in the fourth quarter. State Street Corp now owns 637,504 shares of the business services provider’s stock valued at $14,608,000 after buying an additional 54,330 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Kelly Services by 5.7% in the fourth quarter. Comerica Bank now owns 31,571 shares of the business services provider’s stock valued at $721,000 after buying an additional 1,691 shares during the period. Hedge funds and other institutional investors own 65.98% of the company’s stock.

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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