Kelly Services (NASDAQ:KELYA) Given Outperform Rating at Barrington Research

Barrington Research reiterated their outperform rating on shares of Kelly Services (NASDAQ:KELYA) in a research report released on Thursday, Benzinga reports. They currently have a $29.00 price target on the business services provider’s stock. Barrington Research also issued estimates for Kelly Services’ Q4 2024 earnings at $0.76 EPS and FY2024 earnings at $2.41 EPS.

Separately, StockNews.com downgraded Kelly Services from a buy rating to a hold rating in a research report on Friday, August 9th.

Kelly Services Stock Up 0.9 %

Shares of Kelly Services stock opened at $20.35 on Thursday. The stock’s fifty day moving average is $21.48 and its two-hundred day moving average is $22.58. The company has a market capitalization of $722.87 million, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.80 and a beta of 1.21. Kelly Services has a 52 week low of $17.40 and a 52 week high of $25.27.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. Kelly Services had a return on equity of 6.87% and a net margin of 1.11%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The business’s revenue was down 13.1% compared to the same quarter last year. As a group, research analysts anticipate that Kelly Services will post 2.16 earnings per share for the current year.

Kelly Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.47%. Kelly Services’s dividend payout ratio (DPR) is presently 21.58%.

Institutional Investors Weigh In On Kelly Services

A number of hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Kelly Services during the second quarter worth $30,000. Susquehanna Fundamental Investments LLC increased its stake in shares of Kelly Services by 107.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,269 shares of the business services provider’s stock worth $391,000 after purchasing an additional 9,449 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Kelly Services by 5.8% during the 2nd quarter. AQR Capital Management LLC now owns 371,548 shares of the business services provider’s stock worth $7,955,000 after purchasing an additional 20,520 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Kelly Services by 38.3% during the 2nd quarter. Squarepoint Ops LLC now owns 17,408 shares of the business services provider’s stock worth $373,000 after buying an additional 4,822 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Kelly Services during the 2nd quarter worth about $531,000. 76.34% of the stock is currently owned by institutional investors.

Kelly Services Company Profile

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 permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.