Brokers Set Expectations for Kelly Services, Inc.’s Q2 2020 Earnings (NASDAQ:KELYA)
Kelly Services, Inc. (NASDAQ:KELYA) – Equities researchers at Barrington Research issued their Q2 2020 EPS estimates for Kelly Services in a research report issued on Thursday, June 25th. Barrington Research analyst K. Steinke expects that the business services provider will post earnings of ($0.09) per share for the quarter. Barrington Research currently has a “Outperform” rating and a $25.00 price target on the stock. Barrington Research also issued estimates for Kelly Services’ Q3 2020 earnings at $0.06 EPS, Q4 2020 earnings at $0.44 EPS, FY2020 earnings at $0.62 EPS and FY2021 earnings at $1.66 EPS.
Other analysts also recently issued reports about the stock. BidaskClub upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a research report on Friday, June 5th. Zacks Investment Research upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine upgraded shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Friday, June 5th. TheStreet downgraded shares of Kelly Services from a “c” rating to a “d+” rating in a report on Monday, May 4th. Finally, Noble Financial downgraded shares of Kelly Services from an “outperform” rating to a “market perform” rating and set a $28.00 price target on the stock. in a report on Thursday, April 16th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Kelly Services currently has a consensus rating of “Hold” and an average target price of $25.00.
Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Monday, May 4th. The business services provider reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.11). The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.25 billion. Kelly Services had a negative net margin of 1.20% and a positive return on equity of 6.35%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share.
Large investors have recently modified their holdings of the business. Norges Bank acquired a new position in Kelly Services during the fourth quarter worth $17,546,000. JPMorgan Chase & Co. raised its position in shares of Kelly Services by 37.6% in the first quarter. JPMorgan Chase & Co. now owns 870,830 shares of the business services provider’s stock valued at $11,050,000 after buying an additional 237,821 shares during the last quarter. State Street Corp raised its position in shares of Kelly Services by 23.2% in the first quarter. State Street Corp now owns 1,246,991 shares of the business services provider’s stock valued at $15,824,000 after buying an additional 235,194 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Kelly Services by 96.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 315,391 shares of the business services provider’s stock valued at $7,122,000 after buying an additional 155,000 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Kelly Services in the first quarter valued at about $1,211,000. 67.51% of the stock is owned by institutional investors and hedge funds.
Kelly Services Company Profile
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, 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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