Wall Street brokerages expect Kelly Services, Inc. (NASDAQ:KELYA) to report sales of $1.04 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Kelly Services' earnings, with the highest sales estimate coming in at $1.05 billion and the lowest estimate coming in at $1.03 billion. Kelly Services reported sales of $1.27 billion during the same quarter last year, which indicates a negative year over year growth rate of 18.1%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 4th.
According to Zacks, analysts expect that Kelly Services will report full-year sales of $4.43 billion for the current fiscal year, with estimates ranging from $4.42 billion to $4.44 billion. For the next financial year, analysts forecast that the business will post sales of $4.87 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side analysts that that provide coverage for Kelly Services.
Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.11) by $0.62. The business had revenue of $975.30 million for the quarter, compared to the consensus estimate of $998.74 million. Kelly Services had a positive return on equity of 5.82% and a negative net margin of 2.18%. The firm's quarterly revenue was down 28.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 earnings per share.
KELYA has been the topic of a number of research analyst reports. Barrington Research initiated coverage on Kelly Services in a report on Thursday, June 25th. They issued an "outperform" rating and a $25.00 target price on the stock. Zacks Investment Research downgraded Kelly Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Noble Financial reiterated a "hold" rating on shares of Kelly Services in a research note on Tuesday, August 25th. BidaskClub upgraded Kelly Services from a "hold" rating to a "buy" rating in a research note on Friday, October 9th. Finally, TheStreet upgraded Kelly Services from a "d+" rating to a "c" rating in a research note on Tuesday, August 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. The stock has an average rating of "Hold" and a consensus target price of $24.33.
A number of large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. bought a new position in Kelly Services during the 3rd quarter worth $2,024,000. State of Alaska Department of Revenue raised its position in Kelly Services by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,424 shares of the business services provider's stock worth $535,000 after purchasing an additional 810 shares during the last quarter. Two Sigma Advisers LP raised its position in Kelly Services by 2.2% during the 2nd quarter. Two Sigma Advisers LP now owns 92,532 shares of the business services provider's stock worth $1,463,000 after purchasing an additional 2,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Kelly Services by 17.9% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,800 shares of the business services provider's stock worth $250,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Kelly Services by 4.7% during the 2nd quarter. Principal Financial Group Inc. now owns 263,571 shares of the business services provider's stock worth $4,168,000 after purchasing an additional 11,795 shares during the last quarter. 68.83% of the stock is owned by institutional investors and hedge funds.
Shares of KELYA stock opened at $19.10 on Friday. The stock's fifty day moving average price is $17.70 and its two-hundred day moving average price is $15.66. The company has a market cap of $750.48 million, a PE ratio of -7.05, a P/E/G ratio of 1.58 and a beta of 1.22. Kelly Services has a fifty-two week low of $10.13 and a fifty-two week high of $25.09.
About Kelly Services
Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including 5G, aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.
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