Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a 200-day moving average of $9.48 and traded as high as $9.95. Kelly Services shares last traded at $9.70, with a volume of 745,137 shares.
The business services provider reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). Kelly Services had a negative net margin of 5.98% and a positive return on equity of 4.05%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion.
Kelly Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th were issued a $0.075 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $0.30 dividend on an annualized basis and a yield of 3.1%. Kelly Services's dividend payout ratio is currently -4.13%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on KELYA. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Kelly Services in a research report on Tuesday, April 21st. Zacks Research raised shares of Kelly Services from a "strong sell" rating to a "hold" rating in a research report on Monday, April 20th. Wall Street Zen raised shares of Kelly Services from a "sell" rating to a "hold" rating in a research report on Sunday, February 22nd. Finally, Barrington Research decreased their target price on shares of Kelly Services from $16.00 to $15.00 and set an "outperform" rating on the stock in a research report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $15.00.
Get Our Latest Analysis on Kelly Services
Insiders Place Their Bets
In related news, CEO Christopher D. Layden acquired 10,100 shares of Kelly Services stock in a transaction dated Tuesday, March 24th. The shares were acquired at an average cost of $8.80 per share, for a total transaction of $88,880.00. Following the completion of the purchase, the chief executive officer owned 382,513 shares in the company, valued at approximately $3,366,114.40. The trade was a 2.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Christopher Hunt acquired 10,000 shares of Kelly Services stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $9.43 per share, for a total transaction of $94,300.00. Following the completion of the purchase, the director owned 25,976 shares of the company's stock, valued at approximately $244,953.68. This represents a 62.59% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 35,200 shares of company stock worth $327,137 over the last 90 days. 5.40% of the stock is owned by insiders.
Institutional Trading of Kelly Services
Several hedge funds have recently modified their holdings of the stock. Quarry LP raised its holdings in Kelly Services by 173.2% during the third quarter. Quarry LP now owns 1,970 shares of the business services provider's stock worth $26,000 after purchasing an additional 1,249 shares in the last quarter. Versant Capital Management Inc raised its holdings in Kelly Services by 52.0% during the third quarter. Versant Capital Management Inc now owns 3,006 shares of the business services provider's stock worth $39,000 after purchasing an additional 1,028 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in Kelly Services during the fourth quarter worth approximately $30,000. Tower Research Capital LLC TRC raised its holdings in Kelly Services by 83.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the business services provider's stock worth $51,000 after purchasing an additional 1,967 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Kelly Services during the fourth quarter worth approximately $42,000. 76.34% of the stock is currently owned by institutional investors and hedge funds.
Kelly Services Trading Down 0.9%
The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $9.11 and its two-hundred day simple moving average is $9.48. The company has a market cap of $331.84 million, a price-to-earnings ratio of -1.33, a PEG ratio of 0.72 and a beta of 0.79.
Kelly Services Company Profile
(
Get Free Report)
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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