Kelly Services Inc. (NASDAQ:KELYA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “KELLY SERVICES, INC. provides temporary office clerical, marketing, professional, technical, light industrial, home care services, management services and other business services to a diversified group of customers through offices located in major cities of the United States, Australia, Canada, Denmark, France, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Russia, Spain, Switzerland and United Kingdom. Kelly Temporary Services provides office clerical, marketing, professional, technical, semi-skilled light industrial and management services. “
Shares of Kelly Services (NASDAQ:KELYA) opened at 18.80 on Tuesday. Kelly Services has a 12-month low of $13.67 and a 12-month high of $20.98. The stock has a market cap of $716.15 million, a PE ratio of 11.56 and a beta of 1.89. The firm has a 50-day moving average price of $19.27 and a 200 day moving average price of $19.11.
Kelly Services (NASDAQ:KELYA) last posted its earnings results on Wednesday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.02. Kelly Services had a net margin of 1.14% and a return on equity of 7.03%. The business earned $1.38 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. Equities research analysts predict that Kelly Services will post $1.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Tuesday, August 23rd were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.60%. Kelly Services’s dividend payout ratio (DPR) is 18.41%.
In other news, Director Conrad L. Mallett, Jr. sold 1,792 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $19.55, for a total value of $35,033.60. Following the sale, the director now directly owns 14,351 shares in the company, valued at $280,562.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steven Shelby Armstrong sold 18,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $19.36, for a total value of $348,480.00. Following the completion of the sale, the insider now owns 42,335 shares in the company, valued at $819,605.60. The disclosure for this sale can be found here. 16.10% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management bought a new stake in Kelly Services during the second quarter valued at about $2,564,000. Vanguard Group Inc. raised its stake in Kelly Services by 5.2% in the second quarter. Vanguard Group Inc. now owns 2,364,925 shares of the company’s stock valued at $44,863,000 after buying an additional 116,027 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in Kelly Services during the second quarter valued at about $1,617,000. GAM Holding AG raised its stake in Kelly Services by 84.4% in the second quarter. GAM Holding AG now owns 173,088 shares of the company’s stock valued at $3,283,000 after buying an additional 79,244 shares during the last quarter. Finally, Systematic Financial Management LP bought a new stake in Kelly Services during the second quarter valued at about $1,483,000. Institutional investors and hedge funds own 64.76% of the company’s stock.
About Kelly Services
Kelly Services, Inc is a workforce solutions provider. The Company provides workforce solutions in over three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It operates in seven segments: Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), APAC Commercial, APAC Professional and Technical (APAC PT), and Outsourcing and Consulting Group (OCG).
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