Kelly Services (KELYA) Projected to Post Earnings on Thursday

Kelly Services (NASDAQ:KELYA) is anticipated to release its results before the market opens on Thursday, February 12th. Analysts expect Kelly Services to post earnings of $0.45 per share and revenue of $1.0338 billion for the quarter.

Kelly Services Trading Down 3.8%

NASDAQ:KELYA opened at $10.69 on Tuesday. The firm has a market cap of $377.78 million, a PE ratio of -2.39, a price-to-earnings-growth ratio of 0.49 and a beta of 0.79. The stock has a fifty day moving average price of $9.44 and a 200 day moving average price of $11.27. Kelly Services has a 12-month low of $7.98 and a 12-month high of $15.11. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Private Management Group Inc. purchased a new stake in Kelly Services in the third quarter valued at $8,247,000. JPMorgan Chase & Co. increased its position in shares of Kelly Services by 1,328.6% during the third quarter. JPMorgan Chase & Co. now owns 412,211 shares of the business services provider’s stock worth $5,408,000 after purchasing an additional 383,357 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Kelly Services by 186.9% in the 3rd quarter. Bank of America Corp DE now owns 482,702 shares of the business services provider’s stock valued at $6,333,000 after purchasing an additional 314,447 shares during the last quarter. Kennedy Capital Management LLC boosted its position in shares of Kelly Services by 77.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 687,120 shares of the business services provider’s stock valued at $9,015,000 after purchasing an additional 300,178 shares during the period. Finally, Vanguard Group Inc. grew its stake in Kelly Services by 7.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,071,363 shares of the business services provider’s stock worth $27,176,000 after buying an additional 151,655 shares during the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KELYA has been the subject of several recent research reports. Wall Street Zen cut Kelly Services from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Zacks Research upgraded shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Kelly Services in a research report on Thursday, January 22nd. Finally, Barrington Research restated an “outperform” rating and issued a $16.00 price objective on shares of Kelly Services in a report on Friday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.00.

Kelly Services Company Profile

Kelly Services, Inc is a global workforce solutions provider specializing in talent acquisition and staffing services across a wide range of industries. The company offers temporary staffing, permanent placement, outsourcing solutions, and consulting services to help organizations address their workforce needs. Its service offerings are designed to support clients in areas such as administrative support, information technology, engineering, science, education, healthcare, and industrial sectors.

Founded in 1946 by William Russell Kelly, Kelly Services has grown from a small local staffing firm into an international organization.