Kelly Services, Inc. (NASDAQ:KELYA) – Analysts at Northcoast Research upped their FY2017 earnings per share (EPS) estimates for Kelly Services in a research note issued to investors on Thursday. Northcoast Research analyst J. Healy now expects that the business services provider will post earnings of $2.04 per share for the year, up from their previous forecast of $1.73. Northcoast Research also issued estimates for Kelly Services’ Q4 2017 earnings at $0.62 EPS and FY2018 earnings at $2.06 EPS.
Several other equities research analysts have also recently weighed in on KELYA. BidaskClub cut Kelly Services from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. ValuEngine upgraded Kelly Services from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Finally, Zacks Investment Research upgraded Kelly Services from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Friday, August 11th.
Kelly Services (NASDAQ KELYA) opened at $29.05 on Monday. The company has a market capitalization of $1,079.14, a PE ratio of 14.45 and a beta of 1.06. Kelly Services has a 1 year low of $19.50 and a 1 year high of $29.30.
Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.31 by $0.27. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. Kelly Services had a return on equity of 7.25% and a net margin of 1.44%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS.
Several large investors have recently made changes to their positions in KELYA. Northpointe Capital LLC increased its position in Kelly Services by 45.5% during the 2nd quarter. Northpointe Capital LLC now owns 664,425 shares of the business services provider’s stock valued at $14,916,000 after buying an additional 207,671 shares in the last quarter. Northern Trust Corp increased its position in Kelly Services by 52.7% during the 2nd quarter. Northern Trust Corp now owns 567,333 shares of the business services provider’s stock valued at $12,736,000 after buying an additional 195,919 shares in the last quarter. Vanguard Group Inc. increased its position in Kelly Services by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 2,711,377 shares of the business services provider’s stock valued at $59,270,000 after buying an additional 183,473 shares in the last quarter. State Street Corp increased its position in Kelly Services by 17.8% during the 1st quarter. State Street Corp now owns 751,076 shares of the business services provider’s stock valued at $16,416,000 after buying an additional 113,572 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its position in Kelly Services by 449.4% during the 2nd quarter. Chicago Equity Partners LLC now owns 99,285 shares of the business services provider’s stock valued at $2,229,000 after buying an additional 81,215 shares in the last quarter. 66.63% of the stock is owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Tuesday, November 21st. Kelly Services’s dividend payout ratio is currently 15.71%.
About Kelly Services
Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).
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