Kelly Services (NASDAQ:KELYA) Shares Gap Up – What’s Next?

Kelly Services, Inc. (NASDAQ:KELYA) shares gapped up prior to trading on Tuesday . The stock had previously closed at $14.74, but opened at $15.52. Kelly Services shares last traded at $14.92, with a volume of 61,100 shares trading hands.

Analyst Ratings Changes

KELYA has been the subject of a number of research reports. StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research decreased their price target on shares of Kelly Services from $29.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 18th.

Kelly Services Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a 50-day moving average of $18.50 and a 200-day moving average of $20.37. The firm has a market capitalization of $520.26 million, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 0.58 and a beta of 1.13.

Kelly Services (NASDAQ:KELYA) last announced 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). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Kelly Services, Inc. will post 1.93 EPS for the current fiscal year.

Kelly Services Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is currently 26.09%.

Insiders Place Their Bets

In other news, SVP Daniel H. Malan bought 3,500 shares of Kelly Services stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $13.88 per share, for a total transaction of $48,580.00. Following the acquisition, the senior vice president now owns 95,906 shares of the company’s stock, valued at approximately $1,331,175.28. The trade was a 3.79 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Kelly Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Kelly Services in the 2nd quarter worth about $30,000. Innealta Capital LLC bought a new stake in Kelly Services during the second quarter worth about $39,000. nVerses Capital LLC purchased a new stake in Kelly Services in the second quarter worth about $47,000. Meeder Asset Management Inc. bought a new position in shares of Kelly Services during the second quarter valued at approximately $51,000. Finally, Quest Partners LLC purchased a new position in shares of Kelly Services during the third quarter valued at approximately $158,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

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.