Kelly Services, Inc. (NASDAQ:KELYA) – Northcoast Research lowered their Q4 2018 earnings per share (EPS) estimates for Kelly Services in a research note issued on Wednesday, November 7th. Northcoast Research analyst J. Healy now anticipates that the business services provider will earn $0.88 per share for the quarter, down from their prior forecast of $0.89. Northcoast Research also issued estimates for Kelly Services’ FY2019 earnings at $2.41 EPS.
Other equities research analysts have also issued research reports about the company. BidaskClub raised Kelly Services from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. ValuEngine lowered Kelly Services from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research raised Kelly Services from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, Sidoti started coverage on Kelly Services in a report on Friday, August 24th. They issued a “buy” rating and a $37.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $34.50.
Shares of Kelly Services stock opened at $23.99 on Friday. Kelly Services has a 1 year low of $21.44 and a 1 year high of $32.31. The firm has a market cap of $962.31 million, a PE ratio of 10.90 and a beta of 0.79.
Kelly Services (NASDAQ:KELYA) last announced its earnings results on Wednesday, November 7th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.18. Kelly Services had a return on equity of 7.62% and a net margin of 0.99%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm posted $0.58 EPS. The business’s revenue was up 1.0% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Bank of Australia bought a new position in Kelly Services in the 3rd quarter worth about $242,000. Rhumbline Advisers boosted its position in shares of Kelly Services by 16.7% during the 3rd quarter. Rhumbline Advisers now owns 88,495 shares of the business services provider’s stock valued at $2,127,000 after acquiring an additional 12,677 shares during the last quarter. LSV Asset Management boosted its position in shares of Kelly Services by 0.7% during the 3rd quarter. LSV Asset Management now owns 1,177,623 shares of the business services provider’s stock valued at $28,298,000 after acquiring an additional 7,700 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Kelly Services by 19.7% during the 3rd quarter. Wells Fargo & Company MN now owns 304,377 shares of the business services provider’s stock valued at $7,314,000 after acquiring an additional 50,009 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Kelly Services during the 3rd quarter valued at about $985,000. Institutional investors and hedge funds own 66.21% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Wednesday, November 21st will be paid a $0.075 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.30 annualized dividend and a yield of 1.25%. Kelly Services’s dividend payout ratio is currently 13.64%.
About Kelly Services
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions (GTS), and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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