Zacks: Analysts Anticipate Kelly Services, Inc. (KELYA) Will Post Earnings of $0.88 Per Share

Wall Street analysts forecast that Kelly Services, Inc. (NASDAQ:KELYA) will post $0.88 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Kelly Services’ earnings. Kelly Services reported earnings of $0.80 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The business is expected to announce its next earnings results on Thursday, February 7th.

On average, analysts expect that Kelly Services will report full-year earnings of $2.30 per share for the current financial year. For the next financial year, analysts anticipate that the firm will report earnings of $2.41 per share. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Kelly Services.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.18. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Kelly Services had a net margin of 1.17% and a return on equity of 7.48%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.58 EPS.

KELYA has been the subject of several recent research reports. BidaskClub cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. Zacks Investment Research upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. ValuEngine upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Finally, Sidoti initiated coverage on shares of Kelly Services in a research report on Friday, August 24th. They issued a “buy” rating and a $37.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $34.50.

KELYA stock opened at $23.24 on Wednesday. The company has a market cap of $932.44 million, a P/E ratio of 10.56 and a beta of 0.79. Kelly Services has a 1 year low of $21.44 and a 1 year high of $32.31.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Tuesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is presently 13.64%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its position in Kelly Services by 7.1% in the second quarter. BlackRock Inc. now owns 4,342,762 shares of the business services provider’s stock worth $97,496,000 after buying an additional 289,379 shares during the last quarter. FMR LLC grew its holdings in shares of Kelly Services by 86.8% during the second quarter. FMR LLC now owns 296,211 shares of the business services provider’s stock valued at $6,650,000 after purchasing an additional 137,680 shares during the last quarter. Millennium Management LLC bought a new position in shares of Kelly Services during the second quarter valued at approximately $2,290,000. Allianz Asset Management GmbH grew its holdings in shares of Kelly Services by 47.1% during the first quarter. Allianz Asset Management GmbH now owns 311,262 shares of the business services provider’s stock valued at $9,039,000 after purchasing an additional 99,698 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Kelly Services by 17.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 581,540 shares of the business services provider’s stock valued at $13,056,000 after purchasing an additional 86,195 shares during the last quarter. Institutional investors 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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