Kelly Services, Inc. (NASDAQ:KELYA) – Investment analysts at Northcoast Research lifted their FY2017 EPS estimates for shares of Kelly Services in a report released on Thursday. Northcoast Research analyst J. Healy now forecasts that the business services provider will post earnings per share of $2.04 for the year, up from their previous estimate of $1.73. Northcoast Research also issued estimates for Kelly Services’ Q4 2017 earnings at $0.62 EPS and FY2018 earnings at $2.06 EPS.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research raised Kelly Services from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research report on Tuesday. BidaskClub downgraded Kelly Services from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, ValuEngine upgraded Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, August 11th.
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Shares of Kelly Services (KELYA) opened at $28.85 on Monday. The firm has a market capitalization of $1,112.85, a price-to-earnings ratio of 14.90 and a beta of 1.06. Kelly Services has a 1 year low of $19.50 and a 1 year high of $29.30.
Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, November 8th. The business services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.27. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. Kelly Services had a return on equity of 7.25% and a net margin of 1.44%. Kelly Services’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS.
A number of hedge funds have recently made changes to their positions in the stock. Allianz Asset Management GmbH grew its stake in Kelly Services by 8.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 154,868 shares of the business services provider’s stock worth $3,886,000 after buying an additional 11,508 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Kelly Services during the 3rd quarter worth $954,000. Dimensional Fund Advisors LP grew its stake in Kelly Services by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,945,394 shares of the business services provider’s stock worth $73,900,000 after buying an additional 9,868 shares during the last quarter. Brandes Investment Partners LP grew its stake in Kelly Services by 97.0% during the 3rd quarter. Brandes Investment Partners LP now owns 97,369 shares of the business services provider’s stock worth $2,443,000 after buying an additional 47,935 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Kelly Services by 10.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 491,710 shares of the business services provider’s stock valued at $12,338,000 after purchasing an additional 46,580 shares during the last quarter. Hedge funds and other institutional investors own 66.63% of the company’s stock.
In other news, CEO George S. Corona sold 3,000 shares of Kelly Services stock in a transaction on Monday, November 13th. The stock was sold at an average price of $28.06, for a total value of $84,180.00. Following the transaction, the chief executive officer now directly owns 193,473 shares in the company, valued at approximately $5,428,852.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.30% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be issued a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.04%. Kelly Services’s dividend payout ratio is presently 15.71%.
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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