Barrington Research Weighs in on Kelly Services, Inc.’s Q3 2024 Earnings (NASDAQ:KELYA)

Kelly Services, Inc. (NASDAQ:KELYA) – Equities research analysts at Barrington Research cut their Q3 2024 EPS estimates for shares of Kelly Services in a research note issued to investors on Thursday, August 15th. Barrington Research analyst K. Steinke now forecasts that the business services provider will earn $0.36 per share for the quarter, down from their prior estimate of $0.38. Barrington Research currently has a “Outperform” rating and a $29.00 target price on the stock. The consensus estimate for Kelly Services’ current full-year earnings is $2.16 per share. Barrington Research also issued estimates for Kelly Services’ FY2025 earnings at $2.96 EPS.

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

Kelly Services Trading Down 2.4 %

NASDAQ KELYA opened at $20.22 on Monday. Kelly Services has a 52 week low of $17.40 and a 52 week high of $25.27. The stock has a market cap of $718.25 million, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 0.80 and a beta of 1.21. The company has a 50-day moving average price of $21.44 and a two-hundred day moving average price of $22.59.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.15. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. Kelly Services’s quarterly revenue was down 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 21st will be given a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.30 annualized dividend and a dividend yield of 1.48%. Kelly Services’s dividend payout ratio (DPR) is presently 21.58%.

Institutional Investors Weigh In On Kelly Services

Several hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. lifted its position in Kelly Services by 6.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,454 shares of the business services provider’s stock worth $224,000 after buying an additional 668 shares in the last quarter. Bailard Inc. lifted 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 worth $233,000 after buying an additional 700 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Kelly Services in the 2nd quarter worth approximately $30,000. Los Angeles Capital Management LLC lifted its position in Kelly Services by 2.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 64,668 shares of the business services provider’s stock worth $1,398,000 after buying an additional 1,520 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Kelly Services in the 2nd quarter worth approximately $39,000. 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.