Kelly Services (NASDAQ:KELYA) Sets New 1-Year Low – What’s Next?

Shares of Kelly Services, Inc. (NASDAQ:KELYA) hit a new 52-week low on Thursday . The stock traded as low as $15.47 and last traded at $15.47, with a volume of 23522 shares trading hands. The stock had previously closed at $15.68.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barrington Research reissued an “outperform” rating and issued a $29.00 target price on shares of Kelly Services in a research note on Friday, September 27th. StockNews.com cut Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Kelly Services Stock Down 4.4 %

The company has a market cap of $511.85 million, a PE ratio of 12.51, a PEG ratio of 0.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a fifty day simple moving average of $19.95 and a 200 day simple moving average of $21.08.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business posted $0.50 EPS. The business’s revenue was down 7.1% on a year-over-year basis. Equities research analysts predict that Kelly Services, Inc. will post 2.07 EPS for the current year.

Kelly Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Kelly Services by 1.2% in the third quarter. Geode Capital Management LLC now owns 781,661 shares of the business services provider’s stock valued at $16,739,000 after purchasing an additional 9,635 shares during the period. Barclays PLC increased its position in shares of Kelly Services by 238.0% during the third quarter. Barclays PLC now owns 63,638 shares of the business services provider’s stock worth $1,362,000 after acquiring an additional 44,811 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Kelly Services by 8.9% during the third quarter. Public Employees Retirement System of Ohio now owns 29,723 shares of the business services provider’s stock worth $636,000 after acquiring an additional 2,427 shares during the last quarter. State Street Corp grew its stake in Kelly Services by 1.4% in the third quarter. State Street Corp now owns 1,253,704 shares of the business services provider’s stock worth $26,842,000 after purchasing an additional 17,579 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Kelly Services by 20.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 329,932 shares of the business services provider’s stock worth $7,064,000 after purchasing an additional 56,457 shares in the last quarter. 76.34% of the stock is owned by hedge funds and other 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.