Kelly Services, Inc. (NASDAQ:KELYA) to Issue $0.08 Quarterly Dividend

Kelly Services, Inc. (NASDAQ:KELYA) declared a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 0.075 per share by the business services provider on Wednesday, December 4th. This represents a $0.30 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 20th.

Kelly Services has raised its dividend payment by an average of 58.7% per year over the last three years. Kelly Services has a payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Kelly Services to earn $2.80 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 10.7%.

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $14.39 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. Kelly Services has a 52 week low of $14.36 and a 52 week high of $25.27. The firm has a market cap of $511.85 million, a PE ratio of 12.51, a price-to-earnings-growth ratio of 0.54 and a beta of 1.20. The firm’s fifty day moving average is $19.95 and its 200-day moving average is $21.05.

Kelly Services (NASDAQ:KELYA) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. Sell-side analysts predict that Kelly Services will post 2.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KELYA. StockNews.com lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research reissued an “outperform” rating and set a $29.00 target price on shares of Kelly Services in a research note on Friday, September 27th.

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.