BidaskClub Downgrades Kelly Services (KELYA) to Hold
BidaskClub lowered shares of Kelly Services (NASDAQ:KELYA) from a buy rating to a hold rating in a report published on Tuesday morning.
Separately, Zacks Investment Research cut Kelly Services from a buy rating to a hold rating in a research report on Tuesday, August 15th.
Kelly Services (NASDAQ KELYA) opened at $28.48 on Tuesday. The company has a market capitalization of $1,049.77, a P/E ratio of 14.01 and a beta of 1.10. Kelly Services has a 1 year low of $20.27 and a 1 year high of $30.93.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.27. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. Kelly Services had a return on equity of 7.25% and a net margin of 1.44%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. equities analysts predict that Kelly Services will post 2.04 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Tuesday, November 21st. Kelly Services’s dividend payout ratio (DPR) is 15.71%.
In other Kelly Services news, CEO George S. Corona sold 3,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $28.06, for a total value of $84,180.00. Following the transaction, the chief executive officer now owns 193,473 shares of the company’s stock, valued at $5,428,852.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jane E. Dutton sold 6,900 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $29.05, for a total value of $200,445.00. Following the completion of the transaction, the director now directly owns 24,180 shares in the company, valued at approximately $702,429. The disclosure for this sale can be found here. Insiders sold 17,400 shares of company stock worth $499,800 over the last quarter. Company insiders own 16.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of KELYA. Walthausen & Co. LLC acquired a new position in shares of Kelly Services during the third quarter valued at $3,575,000. California Public Employees Retirement System lifted its stake in shares of Kelly Services by 2.3% during the third quarter. California Public Employees Retirement System now owns 142,241 shares of the business services provider’s stock valued at $3,569,000 after acquiring an additional 3,241 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Kelly Services by 8.0% during the third quarter. Allianz Asset Management GmbH now owns 154,868 shares of the business services provider’s stock valued at $3,886,000 after acquiring an additional 11,508 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Kelly Services during the third quarter valued at $954,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Kelly Services by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,945,394 shares of the business services provider’s stock valued at $73,900,000 after acquiring an additional 9,868 shares during the period. 66.11% of the stock is currently owned by institutional investors.
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Kelly Services Company Profile
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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