Q3 2017 EPS Estimates for Kelly Services, Inc. (KELYA) Decreased by Analyst
Kelly Services, Inc. (NASDAQ:KELYA) – Research analysts at Northcoast Research decreased their Q3 2017 EPS estimates for Kelly Services in a research note issued on Thursday. Northcoast Research analyst J. Healy now anticipates that the business services provider will post earnings per share of $0.31 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 analysts also recently issued research reports about the company. Zacks Investment Research raised Kelly Services from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Friday. ValuEngine raised Kelly Services from a “hold” rating to a “buy” rating in a research note on Friday. Finally, BidaskClub downgraded Kelly Services from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st.
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Shares of Kelly Services (NASDAQ KELYA) opened at 21.52 on Monday. The company has a market capitalization of $824.39 million, a PE ratio of 6.45 and a beta of 0.98. The stock’s 50 day moving average price is $22.55 and its 200 day moving average price is $22.18. Kelly Services has a 12 month low of $18.01 and a 12 month high of $24.70.
Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.24. Kelly Services had a return on equity of 6.88% and a net margin of 2.58%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, August 18th. Kelly Services’s dividend payout ratio (DPR) is presently 8.85%.
In other Kelly Services news, insider Antonina M. Ramsey sold 15,000 shares of Kelly Services stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $24.13, for a total value of $361,950.00. Following the sale, the insider now owns 47,678 shares of the company’s stock, valued at approximately $1,150,470.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Donald R. Parfet sold 22,029 shares of Kelly Services stock in a transaction that occurred on 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 sale, the director now directly owns 23,520 shares in the company, valued at approximately $543,312. The disclosure for this sale can be found here. 16.10% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Kelly Services during the fourth quarter worth about $14,457,000. Northpointe Capital LLC increased its stake in Kelly Services by 45.5% in the second quarter. Northpointe Capital LLC now owns 664,425 shares of the business services provider’s stock worth $14,916,000 after buying an additional 207,671 shares during the last quarter. Northern Trust Corp increased its stake in Kelly Services by 52.7% in the second quarter. Northern Trust Corp now owns 567,333 shares of the business services provider’s stock worth $12,736,000 after buying an additional 195,919 shares during the last quarter. Vanguard Group Inc. increased its stake in Kelly Services by 7.3% in the first quarter. Vanguard Group Inc. now owns 2,711,377 shares of the business services provider’s stock worth $59,270,000 after buying an additional 183,473 shares during the last quarter. Finally, LSV Asset Management increased its stake in Kelly Services by 21.8% in the first quarter. LSV Asset Management now owns 801,261 shares of the business services provider’s stock worth $17,515,000 after buying an additional 143,261 shares during the last quarter. 65.86% of the stock is currently owned by institutional investors and hedge funds.
About Kelly Services
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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