Kelly Services, Inc. (NASDAQ:KELYA) Declares Quarterly Dividend of $0.08

Kelly Services, Inc. (NASDAQ:KELYA) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Wednesday, August 21st will be paid a dividend of 0.075 per share by the business services provider on Wednesday, September 4th. This represents a $0.30 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Wednesday, August 21st.

Kelly Services has increased its dividend by an average of 58.7% annually over the last three years. Kelly Services has a dividend payout ratio of 10.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Kelly Services to earn $2.97 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 10.1%.

Kelly Services Price Performance

Shares of Kelly Services stock traded down $0.12 during trading on Friday, hitting $19.25. The stock had a trading volume of 24,092 shares, compared to its average volume of 235,082. The business has a fifty day moving average of $21.70 and a two-hundred day moving average of $22.62. The firm has a market cap of $683.80 million, a P/E ratio of 13.95, a PEG ratio of 0.80 and a beta of 1.21. Kelly Services has a fifty-two week low of $16.85 and a fifty-two week high of $25.27.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.18. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. Kelly Services’s revenue was down 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 EPS. As a group, research analysts forecast that Kelly Services will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Barrington Research restated an “outperform” rating and set a $29.00 target price on shares of Kelly Services in a report on Tuesday, May 28th.

About Kelly Services

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.