Kelly Services (NASDAQ:KELYA) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Kelly Services (NASDAQ:KELYA) issued its earnings results on Thursday. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04), Zacks reports. Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%.The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion.

Kelly Services Trading Up 1.8%

NASDAQ:KELYA traded up $0.17 during trading hours on Friday, hitting $9.87. The company had a trading volume of 579,837 shares, compared to its average volume of 362,076. The company has a market capitalization of $337.65 million, a PE ratio of -1.30, a price-to-earnings-growth ratio of 0.71 and a beta of 0.79. The stock has a 50-day moving average price of $9.11 and a 200 day moving average price of $9.48. Kelly Services has a 52 week low of $7.98 and a 52 week high of $14.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.54.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Monday, May 18th will be issued a $0.075 dividend. The ex-dividend date is Monday, May 18th. This represents a $0.30 annualized dividend and a yield of 3.0%. Kelly Services’s payout ratio is -4.13%.

Insider Buying and Selling at Kelly Services

In other Kelly Services news, Director James Christopher Hunt bought 10,000 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were purchased at an average price of $9.43 per share, for a total transaction of $94,300.00. Following the acquisition, the director owned 25,976 shares in the company, valued at approximately $244,953.68. This represents a 62.59% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher D. Layden bought 10,100 shares of Kelly Services stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average cost of $8.80 per share, for a total transaction of $88,880.00. Following the completion of the transaction, the chief executive officer directly owned 382,513 shares in the company, valued at approximately $3,366,114.40. This trade represents a 2.71% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 35,200 shares of company stock valued at $327,137 in the last three months. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Quarry LP increased its stake in shares of Kelly Services by 173.2% in the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,249 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new position in shares of Kelly Services in the 4th quarter worth about $30,000. Meeder Asset Management Inc. bought a new position in shares of Kelly Services in the 4th quarter worth about $42,000. Tower Research Capital LLC TRC increased its stake in shares of Kelly Services by 83.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock worth $51,000 after acquiring an additional 1,967 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in shares of Kelly Services by 14.7% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 10,706 shares of the business services provider’s stock worth $94,000 after acquiring an additional 1,369 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KELYA has been the topic of several analyst reports. Barrington Research decreased their target price on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, February 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Kelly Services in a report on Tuesday, April 21st. Zacks Research upgraded shares of Kelly Services from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.00.

About Kelly Services

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.