BidaskClub downgraded shares of Kelly Services (NASDAQ:KELYA) from a sell rating to a strong sell rating in a report published on Saturday, BidAskClub reports.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Kelly Services from a hold rating to a sell rating in a research note on Saturday, November 9th. TheStreet cut Kelly Services from a b rating to a c+ rating in a research note on Wednesday, November 6th. Noble Financial set a $32.00 target price on Kelly Services and gave the company a buy rating in a research note on Friday, September 27th. Northcoast Research cut Kelly Services from a buy rating to a neutral rating in a research note on Wednesday, August 28th. Finally, ValuEngine cut Kelly Services from a hold rating to a sell rating in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $29.50.

NASDAQ:KELYA traded down $0.16 on Friday, hitting $21.09. 4,304 shares of the company’s stock traded hands, compared to its average volume of 143,763. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04. Kelly Services has a 1 year low of $19.21 and a 1 year high of $28.91. The firm has a 50-day moving average price of $23.09 and a 200-day moving average price of $24.84. The company has a market cap of $828.37 million, a PE ratio of 9.30 and a beta of 0.75.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.09). Kelly Services had a net margin of 1.32% and a return on equity of 7.66%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned $0.56 EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, research analysts forecast that Kelly Services will post 2.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.30 annualized dividend and a yield of 1.42%. Kelly Services’s dividend payout ratio (DPR) is presently 13.22%.

In related news, CEO George S. Corona sold 29,110 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $25.18, for a total value of $732,989.80. Following the completion of the sale, the chief executive officer now owns 213,311 shares of the company’s stock, valued at approximately $5,371,170.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 7.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in KELYA. BlackRock Inc. lifted its holdings in Kelly Services by 3.5% in the 2nd quarter. BlackRock Inc. now owns 4,820,333 shares of the business services provider’s stock worth $126,245,000 after purchasing an additional 162,155 shares during the last quarter. Northern Trust Corp lifted its holdings in Kelly Services by 2.9% in the 2nd quarter. Northern Trust Corp now owns 415,204 shares of the business services provider’s stock worth $10,874,000 after purchasing an additional 11,826 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Kelly Services by 31.5% in the 2nd quarter. Wells Fargo & Company MN now owns 380,752 shares of the business services provider’s stock worth $9,973,000 after purchasing an additional 91,296 shares during the last quarter. Invesco Ltd. lifted its holdings in Kelly Services by 47.5% in the 2nd quarter. Invesco Ltd. now owns 325,558 shares of the business services provider’s stock worth $8,526,000 after purchasing an additional 104,852 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Kelly Services by 11.9% in the 2nd quarter. Acadian Asset Management LLC now owns 299,877 shares of the business services provider’s stock worth $7,855,000 after purchasing an additional 31,920 shares during the last quarter. 66.08% of the stock is owned by institutional investors and hedge funds.

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 aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.

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