Kelly Services (NASDAQ:KELYA) Price Target Lowered to $25.00 at Barrington Research

Kelly Services (NASDAQ:KELYA) had its target price reduced by Barrington Research from $29.00 to $25.00 in a research note published on Monday morning,Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

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

Kelly Services Trading Down 1.6 %

Kelly Services stock opened at $14.16 on Monday. Kelly Services has a 12-month low of $14.16 and a 12-month high of $25.27. The firm has a market capitalization of $503.67 million, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.54 and a beta of 1.20. The firm has a 50 day moving average of $19.95 and a 200 day moving average of $21.05. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. As a group, research analysts predict that Kelly Services will post 2.07 earnings per share for the current year.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Institutional Investors Weigh In On Kelly Services

Several institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its stake in Kelly Services by 6.8% in the second quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock worth $224,000 after purchasing an additional 668 shares during the last quarter. Bailard Inc. grew its position in Kelly Services by 6.9% in the 2nd quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after acquiring an additional 700 shares during the last quarter. US Bancorp DE increased its stake in Kelly Services by 9.3% in the third quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock worth $217,000 after purchasing an additional 866 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Kelly Services during the second quarter worth $30,000. Finally, Innealta Capital LLC purchased a new stake in shares of Kelly Services during the second quarter valued at $39,000. 76.34% of the stock is owned by institutional investors.

About Kelly Services

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.