Kelly Services, Inc. (KELYA) Given $34.00 Consensus Target Price by Analysts

Shares of Kelly Services, Inc. (NASDAQ:KELYA) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price objective of $34.00 for the company and are anticipating that the company will post $0.88 earnings per share 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.

A number of equities research analysts have recently issued reports on KELYA shares. BidaskClub raised Kelly Services from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 6th. ValuEngine raised Kelly Services from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Sidoti started coverage on Kelly Services in a research report on Friday, August 24th. They set a “buy” rating and a $37.00 target price on the stock. Finally, Zacks Investment Research raised Kelly Services from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th.

Several hedge funds have recently modified their holdings of KELYA. UBS Group AG grew its holdings in shares of Kelly Services by 166.8% during the first quarter. UBS Group AG now owns 14,326 shares of the business services provider’s stock valued at $416,000 after buying an additional 8,957 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Kelly Services by 53.3% during the first quarter. Legal & General Group Plc now owns 90,848 shares of the business services provider’s stock valued at $2,633,000 after buying an additional 31,583 shares in the last quarter. Principal Financial Group Inc. grew its stake in Kelly Services by 2.3% in the first quarter. Principal Financial Group Inc. now owns 234,517 shares of the business services provider’s stock valued at $6,810,000 after purchasing an additional 5,228 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Kelly Services by 47.1% in 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 in the last quarter. Finally, River Road Asset Management LLC grew its stake in Kelly Services by 5.2% in the second quarter. River Road Asset Management LLC now owns 239,828 shares of the business services provider’s stock valued at $5,384,000 after purchasing an additional 11,884 shares in the last quarter. Institutional investors and hedge funds own 65.98% of the company’s stock.

KELYA opened at $23.28 on Friday. Kelly Services has a one year low of $21.44 and a one year high of $32.31. The firm has a market capitalization of $901.78 million, a PE ratio of 10.47 and a beta of 0.79.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.18. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.36 billion. Kelly Services had a return on equity of 7.45% and a net margin of 1.17%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. On average, research analysts forecast that Kelly Services will post 2.3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.29%. Kelly Services’s dividend payout ratio is 13.64%.

About Kelly Services

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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