Wall Street Zen Downgrades Kelly Services (NASDAQ:KELYA) to Hold

Wall Street Zen cut shares of Kelly Services (NASDAQ:KELYA) from a buy rating to a hold rating in a report released on Tuesday.

Separately, Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of Kelly Services in a research note on Tuesday, February 18th.

Kelly Services Stock Down 0.1%

Shares of NASDAQ KELYA opened at $11.85 on Tuesday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $12.14 and its two-hundred day moving average is $13.45. Kelly Services has a 52-week low of $10.80 and a 52-week high of $23.81. The firm has a market cap of $413.42 million, a price-to-earnings ratio of -197.47, a PEG ratio of 0.43 and a beta of 0.96.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, May 8th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.14). Kelly Services had a negative net margin of 0.01% and a positive return on equity of 6.56%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Research analysts predict that Kelly Services will post 2.45 EPS for the current year.

Kelly Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Monday, May 19th will be given a $0.075 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.30 annualized dividend and a yield of 2.53%. Kelly Services’s dividend payout ratio is presently -50.00%.

Hedge Funds Weigh In On Kelly Services

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its stake in shares of Kelly Services by 5,012.7% in the first quarter. Parallel Advisors LLC now owns 2,812 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 2,757 shares in the last quarter. Quarry LP purchased a new stake in Kelly Services during the 1st quarter worth about $48,000. KBC Group NV raised its position in Kelly Services by 109.1% in the 4th quarter. KBC Group NV now owns 3,886 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 2,028 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Kelly Services by 49.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,277 shares of the business services provider’s stock valued at $60,000 after buying an additional 1,406 shares during the period. Finally, Palouse Capital Management Inc. grew its position in shares of Kelly Services by 13.1% during the fourth quarter. Palouse Capital Management Inc. now owns 8,194 shares of the business services provider’s stock worth $114,000 after buying an additional 950 shares in the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.