Zacks: Kelly Services, Inc. (KELYA) Given Average Recommendation of “Hold” by Analysts
Shares of Kelly Services, Inc. (NASDAQ:KELYA) have been given an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Zacks has also given Kelly Services an industry rank of 94 out of 265 based on the ratings given to related companies.
KELYA has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of 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, November 14th. BidaskClub lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th.
Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.27. Kelly Services had a net margin of 1.44% and a return on equity of 7.25%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business earned $0.44 EPS. Kelly Services’s quarterly revenue was up 6.5% compared to the same quarter last year. equities research analysts predict that Kelly Services will post 2.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Tuesday, November 21st. Kelly Services’s dividend payout ratio is currently 15.71%.
In related news, Director Jane E. Dutton sold 6,900 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.05, for a total value of $200,445.00. Following the sale, the director now owns 24,180 shares of the company’s stock, valued at $702,429. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George S. Corona sold 3,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $28.06, for a total transaction of $84,180.00. Following the completion of the sale, the chief executive officer now directly owns 193,473 shares in the company, valued at approximately $5,428,852.38. The disclosure for this sale can be found here. Insiders have sold 17,400 shares of company stock valued at $499,800 in the last ninety days. 16.10% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan grew its stake in Kelly Services by 4.7% during the third quarter. Municipal Employees Retirement System of Michigan now owns 101,000 shares of the business services provider’s stock worth $2,534,000 after buying an additional 4,520 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Kelly Services during the third quarter worth about $954,000. Vanguard Group Inc. grew its stake in Kelly Services by 0.3% during the second quarter. Vanguard Group Inc. now owns 2,720,771 shares of the business services provider’s stock worth $61,081,000 after buying an additional 9,394 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Kelly Services by 32.1% during the second quarter. Goldman Sachs Group Inc. now owns 67,929 shares of the business services provider’s stock worth $1,525,000 after buying an additional 16,504 shares during the last quarter. Finally, Brandes Investment Partners LP bought a new stake in Kelly Services during the second quarter worth about $1,110,000. 65.91% of the stock is currently owned by hedge funds and other institutional investors.
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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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