Kelly Services (NASDAQ:KELYA) Now Covered by StockNews.com

StockNews.com began coverage on shares of Kelly Services (NASDAQ:KELYA – Get Rating) in a report published on Thursday. The brokerage issued a hold rating on the business services provider’s stock.

A number of other research analysts have also commented on KELYA. Northcoast Research lowered Kelly Services from a buy rating to a neutral rating in a research report on Wednesday, December 7th. Noble Financial decreased their target price on Kelly Services to $25.00 in a research report on Wednesday, November 16th. Finally, Barrington Research decreased their target price on Kelly Services from $24.00 to $23.00 and set an outperform rating for the company in a research report on Tuesday, February 21st.

Kelly Services Trading Down 2.2 %

KELYA traded down $0.34 during midday trading on Thursday, reaching $15.41. 572,011 shares of the company’s stock traded hands, compared to its average volume of 189,536. The firm has a fifty day moving average of $17.21 and a two-hundred day moving average of $16.29. Kelly Services has a 52 week low of $13.41 and a 52 week high of $23.00.

Kelly Services (NASDAQ:KELYA – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The business services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.13). The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. Kelly Services had a negative net margin of 1.26% and a positive return on equity of 4.07%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. Analysts predict that Kelly Services will post 1.38 EPS for the current year.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 13th. Stockholders of record on Monday, February 27th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, February 24th. Kelly Services’s dividend payout ratio is currently -18.52%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KELYA. Charles Schwab Investment Management Inc. increased its position in Kelly Services by 165.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,054,370 shares of the business services provider’s stock valued at $22,870,000 after buying an additional 656,552 shares in the last quarter. JPMorgan Chase & Co. increased its position in Kelly Services by 65.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,186,588 shares of the business services provider’s stock valued at $23,531,000 after buying an additional 469,602 shares in the last quarter. Millennium Management LLC bought a new position in Kelly Services during the 2nd quarter valued at approximately $5,531,000. State Street Corp increased its position in Kelly Services by 11.8% during the 1st quarter. State Street Corp now owns 1,382,847 shares of the business services provider’s stock valued at $29,994,000 after buying an additional 145,684 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Kelly Services by 155.1% during the 1st quarter. Wellington Management Group LLP now owns 228,475 shares of the business services provider’s stock valued at $4,955,000 after buying an additional 138,900 shares in the last quarter. Institutional investors own 74.86% of the company’s stock.

About Kelly Services

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Kelly Services, Inc engages in staffing and workforce solutions. It operates through the following segments: Americas Staffing, Global Talent Solutions, and International Staffing. The Americas Staffing segment delivers temporary staffing, as well as direct-hire placement services, in a number of specialty staffing services, including office, education, marketing, electronic assembly, light industrial, science, engineering, and information technology in United States, Puerto Rico, Canada, Mexico and Brazil.