Kelly Services, Inc. (NASDAQ:KELYA - Free Report) - Equities researchers at Noble Financial upped their Q2 2024 earnings estimates for shares of Kelly Services in a research note issued to investors on Tuesday, May 14th. Noble Financial analyst J. Gomes now anticipates that the business services provider will post earnings of $0.51 per share for the quarter, up from their previous estimate of $0.47. The consensus estimate for Kelly Services' current full-year earnings is $1.89 per share. Noble Financial also issued estimates for Kelly Services' Q3 2024 earnings at $0.32 EPS, Q4 2024 earnings at $0.57 EPS, FY2024 earnings at $1.97 EPS and FY2025 earnings at $2.42 EPS.
Separately, Barrington Research reiterated an "outperform" rating and issued a $29.00 price target on shares of Kelly Services in a research report on Monday.
Read Our Latest Research Report on Kelly Services
Kelly Services Stock Performance
NASDAQ:KELYA traded down $0.17 during mid-day trading on Friday, hitting $22.72. 334,961 shares of the company's stock traded hands, compared to its average volume of 232,904. The company has a market cap of $801.79 million, a PE ratio of 16.47, a price-to-earnings-growth ratio of 0.93 and a beta of 1.19. The firm's 50 day simple moving average is $23.87 and its 200 day simple moving average is $22.12. Kelly Services has a 1 year low of $16.62 and a 1 year high of $25.27.
Kelly Services (NASDAQ:KELYA - Get Free Report) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.38. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.22 billion. Kelly Services had a return on equity of 6.87% and a net margin of 1.11%. The business's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share.
Institutional Investors Weigh In On Kelly Services
Large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Kelly Services during the 1st quarter worth approximately $125,000. Lazard Asset Management LLC acquired a new position in shares of Kelly Services during the first quarter worth $177,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Kelly Services by 80.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,135 shares of the business services provider's stock valued at $148,000 after purchasing an additional 3,616 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Kelly Services during the 1st quarter valued at $221,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Kelly Services during the 1st quarter worth $225,000. Institutional investors and hedge funds own 76.34% of the company's stock.
Insider Activity at Kelly Services
In other news, EVP Olivier Thirot sold 20,000 shares of Kelly Services stock in a transaction on Thursday, March 7th. The stock was 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 owns 174,793 shares of the company's stock, valued at $4,207,267.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Timothy L. Dupree sold 12,711 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $24.98, for a total value of $317,520.78. Following the transaction, the senior vice president now directly owns 32,392 shares of the company's stock, valued at approximately $809,152.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Olivier Thirot sold 20,000 shares of Kelly Services stock in a transaction on 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 transaction, the executive vice president now owns 174,793 shares in the company, valued at approximately $4,207,267.51. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.
Kelly Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, May 17th. Kelly Services's dividend payout ratio is presently 21.58%.
About Kelly Services
(
Get Free Report)
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.
Featured Stories
Before you consider Kelly Services, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kelly Services wasn't on the list.
While Kelly Services currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for June 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
