Kelly Services, Inc. (NASDAQ:KELYA) Upgraded to Sell at BidaskClub
Kelly Services, Inc. (NASDAQ:KELYA) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.
Several other analysts have also recently weighed in on KELYA. Zacks Investment Research upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Wednesday, April 5th. Northcoast Research reiterated a “neutral” rating on shares of Kelly Services in a report on Friday, May 12th. Finally, ValuEngine upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
Kelly Services (NASDAQ KELYA) traded down 1.02% during midday trading on Thursday, hitting $22.40. 124,253 shares of the stock were exchanged. Kelly Services has a 1-year low of $18.01 and a 1-year high of $24.70. The company’s 50 day moving average is $22.95 and its 200-day moving average is $22.22. The stock has a market cap of $857.63 million, a PE ratio of 7.24 and a beta of 0.98.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, May 11th. The business services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.14. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Kelly Services had a net margin of 2.37% and a return on equity of 6.39%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. On average, analysts expect that Kelly Services will post $1.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 7th. Investors of record on Tuesday, May 23rd were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend was Friday, May 19th. Kelly Services’s payout ratio is 9.52%.
In other Kelly Services news, Director Donald R. Parfet sold 22,029 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $23.10, for a total value of $508,869.90. Following the completion of the transaction, the director now owns 23,520 shares of the company’s stock, valued at approximately $543,312. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Antonina M. Ramsey sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $24.13, for a total value of $361,950.00. Following the completion of the transaction, the insider now directly owns 47,678 shares of the company’s stock, valued at approximately $1,150,470.14. The disclosure for this sale can be found here. Insiders own 16.10% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Mason Street Advisors LLC raised its position in shares of 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 during the period. Victory Capital Management Inc. raised its position in shares of 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 during the period. Eqis Capital Management Inc. raised its position in shares of Kelly Services by 3.3% in the first quarter. Eqis Capital Management Inc. now owns 10,937 shares of the business services provider’s stock worth $239,000 after buying an additional 347 shares during the period. Menta Capital LLC acquired a new position in shares of Kelly Services during the first quarter worth $241,000. Finally, Louisiana State Employees Retirement System raised its position in shares of Kelly Services by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the business services provider’s stock worth $260,000 after buying an additional 100 shares during the period. 65.97% of the stock is owned by institutional investors and hedge funds.
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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