Kelly Services, Inc. (NASDAQ:KELYA) – Equities researchers at Northcoast Research lowered their Q4 2018 earnings per share estimates for shares of Kelly Services in a research report issued on Wednesday, November 7th. Northcoast Research analyst J. Healy now anticipates that the business services provider will post earnings per share of $0.88 for the quarter, down from their prior estimate of $0.89. Northcoast Research also issued estimates for Kelly Services’ FY2019 earnings at $2.41 EPS.
Several other brokerages have also recently weighed in on KELYA. BidaskClub cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. ValuEngine raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Finally, Zacks Investment Research raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Kelly Services currently has an average rating of “Buy” and a consensus price target of $34.50.
Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, November 7th. The business services provider reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.18. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.36 billion. Kelly Services had a return on equity of 7.48% and a net margin of 1.17%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Wednesday, November 21st will be given a $0.075 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $0.30 annualized dividend and a yield of 1.29%. Kelly Services’s payout ratio is 13.64%.
Several institutional investors have recently bought and sold shares of KELYA. UBS Group AG lifted its position in shares of Kelly Services by 166.8% during the 1st quarter. UBS Group AG now owns 14,326 shares of the business services provider’s stock worth $416,000 after buying an additional 8,957 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Kelly Services by 53.3% in the 1st quarter. Legal & General Group Plc now owns 90,848 shares of the business services provider’s stock worth $2,633,000 after purchasing an additional 31,583 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Kelly Services by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 234,517 shares of the business services provider’s stock worth $6,810,000 after purchasing an additional 5,228 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Kelly Services by 47.1% in the 1st quarter. Allianz Asset Management GmbH now owns 311,262 shares of the business services provider’s stock worth $9,039,000 after purchasing an additional 99,698 shares during the period. Finally, River Road Asset Management LLC raised its holdings in shares of Kelly Services by 5.2% in the 2nd quarter. River Road Asset Management LLC now owns 239,828 shares of the business services provider’s stock worth $5,384,000 after purchasing an additional 11,884 shares during the period. 66.21% of the stock is currently owned by hedge funds and other 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 (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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