Kelly Services, Inc. Declares Quarterly Dividend of $0.07 (NASDAQ:KELYA)

Key Points

• Kelly Services declared a quarterly dividend of $0.075 per share, payable September 2 to shareholders of record on August 19. The dividend implies an annualized payout of $0.30 and a yield of approximately 1.9%.
• The company reported quarterly earnings of $0.37 per share, beating analyst expectations of $0.18, while revenue reached $1.04 billion versus the $1.01 billion consensus estimate.
• Analyst sentiment remains mixed: Barrington Research raised its price target to $20 and rated the stock “outperform,” while the consensus rating is “Hold” with a $20 average price target.

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Wednesday, August 19th will be paid a dividend of 0.075 per share by the business services provider on Wednesday, September 2nd. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, August 19th.

Kelly Services has raised its dividend by an average of 0.3%annually over the last three years. Kelly Services has a dividend payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kelly Services to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 16.4%.

Kelly Services Stock Performance

KELYA stock opened at $16.06 on Monday. The firm has a market cap of $557.76 million, a P/E ratio of -2.06, a P/E/G ratio of 1.12 and a beta of 0.83. The stock's 50 day simple moving average is $13.78 and its 200 day simple moving average is $11.14. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08. Kelly Services has a 12-month low of $7.98 and a 12-month high of $17.75.

Kelly Services (NASDAQ:KELYA - Get Free Report) last released its earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.19. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, equities research analysts predict that Kelly Services will post 1.1 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KELYA. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kelly Services in a research report on Friday, August 7th. Zacks Research raised Kelly Services from a "strong sell" rating to a "hold" rating in a report on Monday, April 20th. Finally, Barrington Research upped their target price on Kelly Services from $15.00 to $20.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Kelly Services presently has an average rating of "Hold" and a consensus price target of $20.00.

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.

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