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

Kelly Services, Inc. (NASDAQ:KELYA) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.75 and last traded at $13.96, with a volume of 351108 shares trading hands. The stock had previously closed at $14.08.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KELYA shares. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Barrington Research reduced their price target on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a report on Monday.

Kelly Services Stock Performance

The firm has a fifty day moving average price of $19.56 and a 200 day moving average price of $20.85. The firm has a market capitalization of $497.12 million, a PE ratio of 12.14, a P/E/G ratio of 0.54 and a beta of 1.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. Research analysts anticipate that Kelly Services, Inc. will post 2.07 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s dividend payout ratio is currently 26.09%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KELYA. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Kelly Services in the second quarter valued at about $30,000. Innealta Capital LLC bought a new stake in shares of Kelly Services in the second quarter valued at approximately $39,000. nVerses Capital LLC bought a new stake in Kelly Services in the 2nd quarter valued at $47,000. Meeder Asset Management Inc. acquired a new stake in Kelly Services in the 2nd quarter worth $51,000. Finally, SG Americas Securities LLC acquired a new position in shares of Kelly Services during the first quarter valued at about $125,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

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.