FY2024 EPS Estimates for Kelly Services Cut by Analyst

Kelly Services, Inc. (NASDAQ:KELYA) – Barrington Research lowered their FY2024 earnings per share estimates for shares of Kelly Services in a research report issued on Monday, November 18th. Barrington Research analyst K. Steinke now forecasts that the business services provider will earn $2.00 per share for the year, down from their prior estimate of $2.41. Barrington Research currently has a “Outperform” rating and a $25.00 target price on the stock. The consensus estimate for Kelly Services’ current full-year earnings is $2.07 per share. Barrington Research also issued estimates for Kelly Services’ Q4 2024 earnings at $0.50 EPS and FY2025 earnings at $2.35 EPS.

Separately, StockNews.com lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Kelly Services Trading Down 0.9 %

Shares of KELYA stock opened at $13.96 on Thursday. The company has a market capitalization of $497.12 million, a P/E ratio of 12.14, a P/E/G ratio of 0.53 and a beta of 1.20. Kelly Services has a 12-month low of $13.75 and a 12-month high of $25.27. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $19.56 and a 200 day moving average price of $20.85.

Kelly Services (NASDAQ:KELYA) last issued its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The firm’s revenue was down 7.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Kelly Services in the first quarter worth about $125,000. State Board of Administration of Florida Retirement System grew its position in shares of Kelly Services by 97.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,720 shares of the business services provider’s stock worth $469,000 after buying an additional 9,228 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Kelly Services by 73.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 59,416 shares of the business services provider’s stock worth $1,488,000 after buying an additional 25,219 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Kelly Services in the first quarter valued at approximately $177,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Kelly Services in the first quarter valued at approximately $225,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Insider Activity

In related news, SVP Daniel H. Malan bought 3,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average cost of $13.88 per share, with a total value of $48,580.00. Following the completion of the purchase, the senior vice president now owns 95,906 shares in the company, valued at approximately $1,331,175.28. The trade was a 3.79 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, November 20th. Kelly Services’s payout ratio is presently 26.09%.

Kelly Services Company Profile

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.