Zacks: Brokerages Expect Kelly Services, Inc. (KELYA) Will Announce Earnings of $0.31 Per Share
Wall Street brokerages expect Kelly Services, Inc. (NASDAQ:KELYA) to announce earnings per share of $0.31 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Kelly Services’ earnings. Kelly Services posted earnings per share of $0.44 during the same quarter last year, which would suggest a negative year over year growth rate of 29.5%. The firm is scheduled to report its next earnings results on Monday, November 6th.
On average, analysts expect that Kelly Services will report full year earnings of $1.73 per share for the current financial year. For the next year, analysts expect that the business will post earnings of $1.84 per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Kelly Services.
Kelly Services (NASDAQ:KELYA) last announced its earnings results on Wednesday, August 9th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.24. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Kelly Services had a net margin of 2.58% and a return on equity of 6.88%. Kelly Services’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share.
KELYA has been the subject of several recent research reports. ValuEngine raised Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Northcoast Research reissued a “neutral” rating on shares of Kelly Services in a report on Friday, May 12th. Zacks Investment Research raised Kelly Services from a “hold” rating to a “strong-buy” rating and set a $25.00 price objective for the company in a report on Tuesday, May 16th. Finally, BidaskClub raised Kelly Services from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th.
Shares of Kelly Services (KELYA) traded down 1.34% during midday trading on Thursday, hitting $21.29. 139,348 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 stock’s 50-day moving average price is $22.51 and its 200-day moving average price is $22.15. The firm has a market capitalization of $815.58 million, a price-to-earnings ratio of 6.38 and a beta of 0.98.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, August 18th. Kelly Services’s dividend payout ratio (DPR) is currently 8.85%.
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In related news, Director Donald R. Parfet sold 22,029 shares of Kelly Services 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 sale, 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 at this hyperlink. Company insiders own 16.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Teachers Advisors LLC raised its stake in shares of Kelly Services by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 50,307 shares of the business services provider’s stock valued at $1,153,000 after buying an additional 1,829 shares during the period. Louisiana State Employees Retirement System raised its stake 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 valued at $260,000 after buying an additional 100 shares during the period. James Investment Research Inc. purchased a new stake in shares of Kelly Services during the first quarter valued at $1,805,000. Acadian Asset Management LLC raised its stake in shares of Kelly Services by 186.5% in the first quarter. Acadian Asset Management LLC now owns 68,847 shares of the business services provider’s stock valued at $1,504,000 after buying an additional 44,818 shares during the period. Finally, Northpointe Capital LLC raised its stake in shares of Kelly Services by 37.4% in the first quarter. Northpointe Capital LLC now owns 456,754 shares of the business services provider’s stock valued at $9,985,000 after buying an additional 124,245 shares during the period. 64.53% of the stock is owned by institutional investors.
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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