Kelly Services, Inc. (NASDAQ:KELYA) Expected to Post Quarterly Sales of $1.30 Billion

Equities research analysts expect that Kelly Services, Inc. (NASDAQ:KELYA) will announce sales of $1.30 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Kelly Services’ earnings, with estimates ranging from $1.29 billion to $1.31 billion. Kelly Services reported sales of $1.24 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The firm is expected to report its next quarterly earnings results on Thursday, February 17th.

On average, analysts expect that Kelly Services will report full year sales of $4.96 billion for the current fiscal year, with estimates ranging from $4.95 billion to $4.97 billion. For the next fiscal year, analysts anticipate that the business will post sales of $5.32 billion, with estimates ranging from $5.26 billion to $5.38 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Kelly Services.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Wednesday, November 10th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kelly Services had a net margin of 2.20% and a return on equity of 4.13%. During the same quarter in the prior year, the company earned $0.29 EPS.

Several brokerages recently issued reports on KELYA. TheStreet downgraded shares of Kelly Services from a “b-” rating to a “c+” rating in a report on Friday, August 13th. Zacks Investment Research downgraded shares of Kelly Services from a “hold” rating to a “sell” rating in a report on Wednesday, November 17th. Finally, Northcoast Research upgraded shares of Kelly Services from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, August 10th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $27.00.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in shares of Kelly Services by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 245,695 shares of the business services provider’s stock worth $5,472,000 after buying an additional 12,751 shares during the period. Nuveen Asset Management LLC grew its position in shares of Kelly Services by 4.4% during the 1st quarter. Nuveen Asset Management LLC now owns 251,155 shares of the business services provider’s stock worth $5,593,000 after buying an additional 10,654 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Kelly Services during the 1st quarter worth approximately $50,000. California State Teachers Retirement System grew its position in shares of Kelly Services by 1.9% during the 1st quarter. California State Teachers Retirement System now owns 51,877 shares of the business services provider’s stock worth $1,155,000 after buying an additional 967 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of Kelly Services by 12.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 28,855 shares of the business services provider’s stock worth $643,000 after buying an additional 3,269 shares during the period. Hedge funds and other institutional investors own 71.07% of the company’s stock.

KELYA stock traded down $0.15 during trading on Thursday, hitting $18.18. 125,185 shares of the stock traded hands, compared to its average volume of 162,056. Kelly Services has a one year low of $17.26 and a one year high of $26.98. The stock has a market cap of $716.09 million, a PE ratio of 6.73 and a beta of 1.17. The stock has a 50 day moving average of $19.17.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 8th. Shareholders of record on Wednesday, November 24th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.10%. The ex-dividend date is Tuesday, November 23rd. Kelly Services’s payout ratio is presently 7.41%.

About Kelly Services

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.

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