Kelly Services, Inc. (NASDAQ:KELYA) – Stock analysts at Northcoast Research lifted their FY2017 earnings per share (EPS) estimates for shares of Kelly Services in a research report issued to clients and investors on Thursday. Northcoast Research analyst J. Healy now forecasts that the business services provider will post earnings of $1.73 per share for the year, up from their previous forecast of $1.72. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Kelly Services’ Q4 2017 earnings at $0.59 EPS.
Several other research analysts have also issued reports on the company. Zacks Investment Research upgraded Kelly Services from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday. ValuEngine upgraded Kelly Services from a “hold” rating to a “buy” rating in a research note on Friday. Finally, BidaskClub lowered Kelly Services from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st.
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Kelly Services (NASDAQ KELYA) opened at 21.52 on Friday. The company has a market cap of $824.19 million, a price-to-earnings ratio of 6.45 and a beta of 0.98. Kelly Services has a 52-week low of $18.01 and a 52-week high of $24.70. The stock’s 50 day moving average is $22.55 and its 200 day moving average is $22.18.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.23 by $0.24. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Kelly Services had a net margin of 2.58% and a return on equity of 6.88%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share.
A number of institutional investors have recently bought and sold shares of KELYA. Norges Bank purchased a new position in Kelly Services during the fourth quarter valued at about $14,457,000. LSV Asset Management boosted its position in Kelly Services by 21.8% in the first quarter. LSV Asset Management now owns 801,261 shares of the business services provider’s stock valued at $17,515,000 after buying an additional 143,261 shares in the last quarter. WBI Investments Inc. purchased a new position in Kelly Services during the first quarter valued at about $547,000. Prudential Financial Inc. boosted its position in Kelly Services by 0.4% in the first quarter. Prudential Financial Inc. now owns 50,288 shares of the business services provider’s stock valued at $1,099,000 after buying an additional 180 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its position in Kelly Services by 17.6% in the first quarter. Gotham Asset Management LLC now owns 32,146 shares of the business services provider’s stock valued at $703,000 after buying an additional 4,807 shares in the last quarter. Institutional investors and hedge funds own 65.86% of the company’s stock.
In other news, Director Donald R. Parfet sold 22,029 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was 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 directly owns 23,520 shares in the company, valued at $543,312. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Antonina M. Ramsey sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were 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 of the company’s stock, valued at $1,150,470.14. The disclosure for this sale can be found here. Corporate insiders own 16.10% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.30 annualized dividend and a yield of 1.39%. Kelly Services’s dividend payout ratio 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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