Kelly Services, Inc. (NASDAQ:KELYA – Get Rating) – Barrington Research increased their Q2 2023 EPS estimates for shares of Kelly Services in a report released on Friday, May 19th. Barrington Research analyst K. Steinke now anticipates that the business services provider will post earnings per share of $0.38 for the quarter, up from their previous forecast of $0.30. The consensus estimate for Kelly Services’ current full-year earnings is $1.48 per share. Barrington Research also issued estimates for Kelly Services’ Q3 2023 earnings at $0.16 EPS and Q4 2023 earnings at $0.69 EPS.
Kelly Services (NASDAQ:KELYA – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The business services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.13). The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.25 billion. Kelly Services had a positive return on equity of 3.90% and a negative net margin of 0.08%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.65 earnings per share.
Kelly Services Stock Performance
Shares of NASDAQ KELYA opened at $19.06 on Monday. The stock has a market cap of $688.07 million, a P/E ratio of -190.58, a P/E/G ratio of 0.97 and a beta of 1.12. The firm has a 50 day moving average price of $16.48 and a 200 day moving average price of $16.84. Kelly Services has a 52-week low of $13.41 and a 52-week high of $22.56.
Kelly Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Monday, May 22nd will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.30 dividend on an annualized basis and a yield of 1.57%. Kelly Services’s dividend payout ratio (DPR) is presently -299.97%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in KELYA. Royal Bank of Canada increased its stake in shares of Kelly Services by 131.6% in the 3rd quarter. Royal Bank of Canada now owns 2,121 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 1,205 shares in the last quarter. UBS Group AG grew its position in Kelly Services by 7,115.6% in the 2nd quarter. UBS Group AG now owns 2,309 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 2,277 shares during the period. Captrust Financial Advisors grew its stake in shares of Kelly Services by 43.0% in the 1st quarter. Captrust Financial Advisors now owns 3,407 shares of the business services provider’s stock worth $74,000 after acquiring an additional 1,024 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Kelly Services in the 2nd quarter worth $73,000. Finally, US Bancorp DE grew its position in Kelly Services by 16.9% during the first quarter. US Bancorp DE now owns 4,185 shares of the business services provider’s stock valued at $91,000 after buying an additional 606 shares during the period. Institutional investors own 74.86% of the company’s stock.
About Kelly Services
Kelly Services, Inc engages in staffing and workforce solutions. It operates through the following segments: Americas Staffing, Global Talent Solutions, and International Staffing. The Americas Staffing segment delivers temporary staffing, as well as direct-hire placement services, in several staffing services, including office, education, marketing, electronic assembly, light industrial, science, engineering, and information technology in United States, Puerto Rico, Canada, Mexico and Brazil.
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