FY2024 EPS Forecast for Kelly Services Lowered by Analyst

Kelly Services, Inc. (NASDAQ:KELYA) – Stock analysts at Barrington Research lowered their FY2024 EPS estimates for shares of Kelly Services in a 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 previous estimate of $2.41. Barrington Research currently has a “Outperform” rating and a $25.00 price target 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 cut Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Kelly Services Trading Down 0.9 %

Shares of NASDAQ:KELYA opened at $13.96 on Thursday. 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 market capitalization of $497.12 million, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.53 and a beta of 1.20. The firm has a fifty day moving average of $19.56 and a two-hundred day moving average of $20.85.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results 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). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. Kelly Services’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share.

Institutional Investors Weigh In On Kelly Services

A number of hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Kelly Services in the second quarter valued at approximately $30,000. Innealta Capital LLC acquired a new stake in Kelly Services in the 2nd quarter worth $39,000. nVerses Capital LLC acquired a new stake in Kelly Services in the 2nd quarter worth $47,000. Meeder Asset Management Inc. bought a new position in shares of Kelly Services during the 2nd quarter worth about $51,000. Finally, SG Americas Securities LLC acquired a new position in shares of Kelly Services during the first quarter valued at about $125,000. 76.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Daniel H. Malan acquired 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average cost of $13.88 per share, with a total value of $48,580.00. Following the acquisition, the senior vice president now owns 95,906 shares in the company, valued at approximately $1,331,175.28. This represents a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is owned by insiders.

Kelly Services Announces Dividend

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

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.