Kelly Services (KELYA) to Post Quarterly Earnings on Thursday

Kelly Services (NASDAQ:KELYA) will likely be releasing its results before the market opens on Thursday, August 6th. Analysts expect Kelly Services to post earnings of $0.1850 per share and revenue of $1.0093 billion for the quarter.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%.The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, analysts expect Kelly Services to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Kelly Services Price Performance

Shares of Kelly Services stock opened at $15.81 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.59 and a current ratio of 1.59. The stock’s fifty day moving average is $12.79 and its 200 day moving average is $10.69. The stock has a market cap of $548.13 million, a P/E ratio of -2.08, a P/E/G ratio of 1.23 and a beta of 0.84. Kelly Services has a one year low of $7.98 and a one year high of $16.50.

Kelly Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, May 18th. Kelly Services’s dividend payout ratio is presently -3.95%.

Analyst Ratings Changes

A number of analysts have recently issued reports on KELYA shares. Zacks Research raised shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Barrington Research reissued an “outperform” rating on shares of Kelly Services in a report on Monday, June 29th. Finally, Weiss Ratings lowered Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Kelly Services currently has an average rating of “Hold” and a consensus price target of $15.00.

Insider Buying and Selling

In other Kelly Services news, EVP Vanessa Peterson Williams sold 29,999 shares of Kelly Services stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $9.78, for a total value of $293,390.22. Following the completion of the transaction, the executive vice president directly owned 82,355 shares of the company’s stock, valued at $805,431.90. This trade represents a 26.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Private Management Group Inc. increased its stake in Kelly Services by 101.8% during the fourth quarter. Private Management Group Inc. now owns 1,268,649 shares of the business services provider’s stock worth $11,164,000 after acquiring an additional 640,076 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Kelly Services by 39.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,908,900 shares of the business services provider’s stock valued at $16,798,000 after purchasing an additional 544,309 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Kelly Services by 594.2% in the 4th quarter. Millennium Management LLC now owns 623,723 shares of the business services provider’s stock worth $5,489,000 after purchasing an additional 533,873 shares during the period. JPMorgan Chase & Co. increased its position in shares of Kelly Services by 1,328.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock valued at $5,408,000 after purchasing an additional 383,357 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Kelly Services by 186.9% during the 3rd quarter. Bank of America Corp DE now owns 482,702 shares of the business services provider’s stock valued at $6,333,000 after buying an additional 314,447 shares during the period. Institutional investors own 76.34% of the company’s stock.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.