Kelly Services (NASDAQ:KELYA) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Kelly Services, Inc. is a global leader of providing workforce solutions. Kelly Services, Inc. and its subsidiaries, offer a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire, and direct-hire basis. The company provides temporary office clerical, marketing, professional, technical, light industrial, home care services, management services and other business services to a diversified group of customers through offices located in major cities of the United States, Australia, Canada, Denmark, France, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Russia, Spain, Switzerland and United Kingdom. Kelly Temporary Services provides office clerical, marketing, professional, technical, semi-skilled light industrial and management services. “
Other equities analysts have also issued research reports about the company. TheStreet raised Kelly Services from a d+ rating to a c rating in a report on Tuesday, August 25th. BidaskClub lowered Kelly Services from a buy rating to a hold rating in a research report on Wednesday, October 28th. Noble Financial reaffirmed a hold rating on shares of Kelly Services in a report on Tuesday, August 25th. Finally, Barrington Research increased their price target on shares of Kelly Services from $20.00 to $24.00 and gave the company an outperform rating in a research note on Monday, November 9th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $25.00.
Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, November 5th. The business services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.19. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a positive return on equity of 5.82% and a negative net margin of 2.18%. Kelly Services’s revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. As a group, sell-side analysts expect that Kelly Services will post 1.2 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC purchased a new position in Kelly Services during the 2nd quarter worth $8,257,000. FMR LLC raised its holdings in Kelly Services by 88,993.1% during the second quarter. FMR LLC now owns 401,810 shares of the business services provider’s stock worth $6,355,000 after purchasing an additional 401,359 shares in the last quarter. State Street Corp raised its holdings in Kelly Services by 23.2% during the first quarter. State Street Corp now owns 1,246,991 shares of the business services provider’s stock worth $15,824,000 after purchasing an additional 235,194 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Kelly Services by 24.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,122,661 shares of the business services provider’s stock valued at $18,962,000 after purchasing an additional 222,139 shares in the last quarter. Finally, Foundry Partners LLC boosted its holdings in Kelly Services by 573.1% in the 2nd quarter. Foundry Partners LLC now owns 165,788 shares of the business services provider’s stock valued at $2,622,000 after purchasing an additional 141,158 shares in the last quarter. 68.83% of the stock is owned by institutional investors.
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, 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 5G, aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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