Kelly Services, Inc. (NASDAQ:KELYA) – Analysts at Northcoast Research reduced their Q3 2017 earnings estimates for Kelly Services in a research note issued to investors on Thursday. Northcoast Research analyst J. Healy now forecasts that the business services provider will post earnings of $0.31 per share for the quarter, down from their previous estimate of $0.51. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Kelly Services’ FY2018 earnings at $1.84 EPS.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Finally, BidaskClub cut shares of Kelly Services from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st.
Shares of Kelly Services (NASDAQ KELYA) opened at 21.57 on Monday. The firm has a 50-day moving average of $22.52 and a 200-day moving average of $22.16. The firm has a market cap of $826.30 million, a P/E ratio of 6.46 and a beta of 0.98. Kelly Services has a 12-month low of $18.01 and a 12-month high of $24.70.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.24. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS.
Several institutional investors have recently bought and sold shares of KELYA. SG Americas Securities LLC purchased a new position in Kelly Services during the second quarter worth $117,000. State of Alaska Department of Revenue raised its position in 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 worth $128,000 after buying an additional 2,501 shares in the last quarter. Mason Street Advisors LLC raised its position in 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 worth $149,000 after buying an additional 449 shares in the last quarter. Victory Capital Management Inc. raised its position in 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 worth $158,000 after buying an additional 1,856 shares in the last quarter. Finally, First Quadrant L P CA purchased a new position in Kelly Services during the second quarter worth $242,000. 64.53% of the stock is owned by institutional investors and hedge funds.
In other Kelly Services news, Director Donald R. Parfet sold 22,029 shares of Kelly Services stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $23.10, for a total transaction of $508,869.90. Following the completion of the transaction, the director now owns 23,520 shares in the company, valued at $543,312. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.30% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, August 18th. Kelly Services’s payout ratio is currently 8.85%.
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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