Kelly Services (NASDAQ:KELYA) Releases Earnings Results, Misses Estimates By $0.04 EPS

Kelly Services (NASDAQ:KELYA) issued its quarterly earnings data on Thursday. The business services provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04), Zacks reports. Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%.The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion.

Kelly Services Trading Up 1.8%

KELYA stock traded up $0.17 during midday trading on Friday, hitting $9.87. The stock had a trading volume of 579,837 shares, compared to its average volume of 362,076. The firm has a market cap of $337.67 million, a PE ratio of -1.30, a price-to-earnings-growth ratio of 0.72 and a beta of 0.79. The company’s 50-day moving average price is $9.11 and its 200 day moving average price is $9.48. Kelly Services has a 12-month low of $7.98 and a 12-month high of $14.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.54.

Kelly Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, May 18th. Kelly Services’s payout ratio is presently -3.95%.

Analysts Set New Price Targets

Several analysts have commented on KELYA shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kelly Services in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Barrington Research lowered their target price on shares of Kelly Services from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, February 13th. Finally, Zacks Research raised shares of Kelly Services from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.00.

Insiders Place Their Bets

In related news, Director James Christopher Hunt purchased 10,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were bought at an average price of $9.43 per share, for a total transaction of $94,300.00. Following the acquisition, the director directly owned 25,976 shares in the company, valued at $244,953.68. This trade represents a 62.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher D. Layden purchased 10,100 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was bought at an average price of $8.80 per share, for a total transaction of $88,880.00. Following the acquisition, the chief executive officer owned 382,513 shares in the company, valued at $3,366,114.40. The trade was a 2.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 35,200 shares of company stock worth $327,137. 5.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kelly Services

A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Kelly Services by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,949 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 905 shares during the last quarter. Quarry LP boosted its holdings in shares of Kelly Services by 173.2% in the 3rd quarter. Quarry LP now owns 1,970 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,249 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Kelly Services by 14.7% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 10,706 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 1,369 shares during the last quarter. Man Group plc boosted its holdings in shares of Kelly Services by 6.6% in the 2nd quarter. Man Group plc now owns 24,780 shares of the business services provider’s stock valued at $290,000 after purchasing an additional 1,532 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Kelly Services by 83.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 1,967 shares during the last quarter. Institutional investors and hedge funds own 76.34% of the company’s stock.

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.