Kelly Services (NASDAQ:KELYA) Reaches New 52-Week High at $21.08

Shares of Kelly Services, Inc. (NASDAQ:KELYA) hit a new 52-week high during trading on Tuesday . The stock traded as high as $21.08 and last traded at $21.01, with a volume of 27616 shares. The stock had previously closed at $20.96.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com upgraded shares of Kelly Services from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. TheStreet upgraded shares of Kelly Services from a “c” rating to a “b-” rating in a report on Thursday, November 9th. Finally, Barrington Research restated an “outperform” rating and issued a $26.00 target price on shares of Kelly Services in a report on Wednesday, November 15th.

Kelly Services Trading Up 0.0 %

The stock has a market capitalization of $742.34 million, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 0.93 and a beta of 1.11. The company has a 50-day moving average price of $18.62 and a 200 day moving average price of $18.18.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings results on Thursday, November 9th. The business services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.25 by $0.25. Kelly Services had a return on equity of 4.32% and a net margin of 0.50%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $0.25 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts expect that Kelly Services, Inc. will post 1.69 earnings per share for the current year.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 6th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, November 21st. Kelly Services’s dividend payout ratio is currently 46.15%.

Institutional Trading of Kelly Services

Several large investors have recently added to or reduced their stakes in KELYA. Assenagon Asset Management S.A. purchased a new stake in shares of Kelly Services in the second quarter worth about $616,000. SG Americas Securities LLC purchased a new stake in shares of Kelly Services in the first quarter worth about $286,000. Advisors Preferred LLC purchased a new stake in shares of Kelly Services in the first quarter worth about $257,000. Mackenzie Financial Corp boosted its stake in shares of Kelly Services by 42.2% in the second quarter. Mackenzie Financial Corp now owns 41,429 shares of the business services provider’s stock worth $737,000 after buying an additional 12,294 shares during the last quarter. Finally, River Road Asset Management LLC boosted its stake in shares of Kelly Services by 0.3% in the second quarter. River Road Asset Management LLC now owns 876,173 shares of the business services provider’s stock worth $15,429,000 after buying an additional 2,692 shares during the last quarter. Hedge funds and other institutional investors own 73.09% of the company’s stock.

About Kelly Services

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and placement services in the areas of office, professional, light industrial, and contact center specialties.