Kelly Services, Inc. (NASDAQ:KELYA - Free Report) - Stock analysts at Barrington Research boosted their Q2 2024 EPS estimates for shares of Kelly Services in a report released on Monday, May 13th. Barrington Research analyst K. Steinke now anticipates that the business services provider will post earnings of $0.51 per share for the quarter, up from their previous estimate of $0.50. Barrington Research currently has a "Outperform" rating and a $29.00 target price on the stock. The consensus estimate for Kelly Services' current full-year earnings is $1.78 per share. Barrington Research also issued estimates for Kelly Services' Q3 2024 earnings at $0.26 EPS, Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $1.96 EPS and FY2025 earnings at $2.64 EPS.
Kelly Services Price Performance
Shares of KELYA stock traded up $0.44 during trading hours on Tuesday, hitting $22.68. 214,759 shares of the company's stock were exchanged, compared to its average volume of 231,730. Kelly Services has a 52 week low of $16.62 and a 52 week high of $25.27. The stock has a market cap of $800.38 million, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19. The stock's 50-day moving average is $23.92 and its 200-day moving average is $22.08.
Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.38. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. The company's quarterly revenue was down .1% compared to the same quarter last year.
Kelly Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 20th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, May 17th. Kelly Services's dividend payout ratio is 21.58%.
Insider Buying and Selling
In related news, SVP Timothy L. Dupree sold 12,711 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $24.98, for a total transaction of $317,520.78. Following the completion of the sale, the senior vice president now directly owns 32,392 shares of the company's stock, valued at $809,152.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Kelly Services news, SVP Timothy L. Dupree sold 12,711 shares of the firm's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $24.98, for a total transaction of $317,520.78. Following the transaction, the senior vice president now owns 32,392 shares in the company, valued at $809,152.16. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Olivier Thirot sold 20,000 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $24.07, for a total value of $481,400.00. Following the completion of the sale, the executive vice president now directly owns 174,793 shares of the company's stock, valued at $4,207,267.51. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company's stock.
Institutional Investors Weigh In On Kelly Services
Several large investors have recently modified their holdings of KELYA. SG Americas Securities LLC acquired a new position in Kelly Services in the 1st quarter worth $125,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Kelly Services by 80.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,135 shares of the business services provider's stock worth $148,000 after buying an additional 3,616 shares in the last quarter. EMC Capital Management raised its position in Kelly Services by 299.7% in the 3rd quarter. EMC Capital Management now owns 9,504 shares of the business services provider's stock valued at $173,000 after buying an additional 7,126 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Kelly Services in the 1st quarter valued at approximately $221,000. Finally, Teacher Retirement System of Texas acquired a new position in Kelly Services during the 3rd quarter worth approximately $231,000. 76.34% of the stock is currently owned by institutional investors.
Kelly Services Company Profile
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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.
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