Kelly Services (NASDAQ:KELYA) Stock Price Breaks Above Fifty Day Moving Average - What's Next?

Key Points

• Kelly Services shares broke above their 50-day moving average, reaching $16.61 and last trading at $16.59, compared with a 50-day average of $16.30.
• Analyst sentiment is mixed: the stock has a consensus rating of “Hold” from three analysts, with an average price target of $20.00; Barrington Research upgraded it to “Outperform.”
• The company exceeded quarterly earnings expectations, reporting $0.37 in EPS versus the $0.18 consensus, while revenue reached $1.04 billion. Kelly also maintains a quarterly dividend of $0.075 per share, producing a 1.8% yield.

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report)'s share price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $16.30 and traded as high as $16.61. Kelly Services shares last traded at $16.59, with a volume of 158,312 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KELYA. Wall Street Zen raised Kelly Services from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. Weiss Ratings upgraded shares of Kelly Services from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, August 21st. Finally, Barrington Research upped their target price on shares of Kelly Services from $15.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $20.00.

Kelly Services Stock Up 2.0%

The business's 50-day moving average is $16.30 and its two-hundred day moving average is $12.50. The firm has a market capitalization of $576.20 million, a price-to-earnings ratio of -2.12, a P/E/G ratio of 1.14 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.50 and a current ratio of 1.50.

Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, equities analysts anticipate that Kelly Services, Inc. will post 1.10 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, August 19th. Kelly Services's dividend payout ratio (DPR) is currently -3.84%.

Hedge Funds Weigh In On Kelly Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp acquired a new position in Kelly Services in the first quarter valued at about $4,371,000. Donald Smith & CO. Inc. bought a new stake in shares of Kelly Services in the second quarter worth about $5,704,000. Public Employees Retirement System of Ohio bought a new stake in shares of Kelly Services in the second quarter worth about $755,000. Quantinno Capital Management LP increased its holdings in shares of Kelly Services by 34.5% in the first quarter. Quantinno Capital Management LP now owns 189,010 shares of the business services provider's stock worth $1,673,000 after acquiring an additional 48,431 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Kelly Services by 90.5% during the first quarter. Sei Investments Co. now owns 94,916 shares of the business services provider's stock worth $840,000 after purchasing an additional 45,097 shares during the period. Institutional investors and hedge funds own 76.34% of the company's stock.

About Kelly Services

Kelly Services, Inc is a workforce solutions company that provides staffing, recruiting, and talent-management services to employers. The company helps organizations address temporary, contract, direct-hire, and outsourced workforce needs across a range of industries and skill levels.

Its offerings include professional and industrial staffing, office and administrative support, science and engineering talent, education staffing, contact-center solutions, and workforce outsourcing and consulting.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.