Kelly Services (NASDAQ:KELYA) Sets New 1-Year Low – Here’s What Happened

Kelly Services, Inc. (NASDAQ:KELYA) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.47 and last traded at $15.47, with a volume of 23522 shares changing hands. The stock had previously closed at $15.68.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $29.00 price target on shares of Kelly Services in a research report on Friday, September 27th. StockNews.com downgraded shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Kelly Services Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $544.93 million, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.59 and a beta of 1.20. The business’s 50-day moving average price is $20.17 and its two-hundred day moving average price is $21.17.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. On average, research analysts forecast that Kelly Services, Inc. will post 2.07 EPS for the current fiscal year.

Kelly Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders 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 yield of 1.96%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s dividend payout ratio is presently 26.09%.

Institutional Investors Weigh In On Kelly Services

A number of hedge funds have recently added to or reduced their stakes in 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 valued at $224,000 after buying an additional 668 shares during the last quarter. Bailard Inc. lifted its stake in Kelly Services by 6.9% in the second quarter. Bailard Inc. now owns 10,874 shares of the business services provider’s stock valued at $233,000 after buying an additional 700 shares during the last quarter. US Bancorp DE lifted 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 valued at $217,000 after buying an additional 866 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Kelly Services in the second quarter valued at $30,000. Finally, Innealta Capital LLC bought a new stake in Kelly Services in the second quarter valued at $39,000. 76.34% of the stock is currently owned by institutional investors.

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.