Barrington Research reaffirmed their outperform rating on shares of Kelly Services (NASDAQ:KELYA – Free Report) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $29.00 price target on the business services provider’s stock. Barrington Research also issued estimates for Kelly Services’ Q4 2024 earnings at $0.76 EPS and FY2024 earnings at $2.41 EPS.
Separately, StockNews.com cut Kelly Services from a buy rating to a hold rating in a research note on Friday, August 9th.
View Our Latest Stock Analysis on Kelly Services
Kelly Services Stock Up 0.9 %
Kelly Services (NASDAQ:KELYA – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.15. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. The company’s revenue was down 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. As a group, equities analysts anticipate that Kelly Services will post 2.16 earnings per share for the current year.
Kelly Services Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 21st will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Wednesday, August 21st. Kelly Services’s payout ratio is 21.58%.
Institutional Investors Weigh In On Kelly Services
Hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kelly Services during the second quarter valued at $30,000. Innealta Capital LLC acquired a new position in shares of Kelly Services during the second quarter valued at $39,000. nVerses Capital LLC acquired a new position in shares of Kelly Services during the second quarter valued at $47,000. Meeder Asset Management Inc. acquired a new position in shares of Kelly Services during the second quarter valued at $51,000. Finally, SG Americas Securities LLC acquired a new position in shares of Kelly Services during the first quarter valued at $125,000. 76.34% of the stock is currently owned by institutional investors.
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.
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