FY2024 EPS Estimates for Kelly Services Lowered by Analyst

Kelly Services, Inc. (NASDAQ:KELYA) – Analysts at Barrington Research dropped their FY2024 earnings per share estimates for shares of Kelly Services in a research note issued to investors on Monday, November 18th. Barrington Research analyst K. Steinke now expects that the business services provider will post earnings per share of $2.00 for the year, down from their prior forecast 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 downgraded Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $14.40 on Thursday. The company’s fifty day moving average is $19.42 and its two-hundred day moving average is $20.80. The company has a market cap of $512.78 million, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.53 and a beta of 1.20. Kelly Services has a 12-month low of $13.71 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.

Kelly Services (NASDAQ:KELYA) last released its earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). The firm 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%. The business’s revenue was down 7.1% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is currently 26.09%.

Insider Activity

In other Kelly Services news, SVP Daniel H. Malan bought 3,500 shares of Kelly Services stock in a transaction on Wednesday, November 20th. The stock was purchased at an average cost of $13.88 per share, for a total transaction of $48,580.00. Following the completion of the purchase, the senior vice president now directly owns 95,906 shares of the company’s stock, valued at $1,331,175.28. The trade was a 3.79 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kelly Services

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in Kelly Services by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider’s stock valued at $57,972,000 after purchasing an additional 21,230 shares during the last quarter. State Street Corp grew its stake in Kelly Services by 1.4% in the 3rd quarter. State Street Corp now owns 1,253,704 shares of the business services provider’s stock valued at $26,842,000 after buying an additional 17,579 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Kelly Services by 45.7% in the 3rd quarter. Pacer Advisors Inc. now owns 1,211,791 shares of the business services provider’s stock worth $25,944,000 after acquiring an additional 380,035 shares during the period. Geode Capital Management LLC lifted its position in Kelly Services by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 781,661 shares of the business services provider’s stock worth $16,739,000 after acquiring an additional 9,635 shares during the last quarter. Finally, Boston Partners bought a new stake in Kelly Services during the first quarter valued at about $18,618,000. Institutional investors and hedge funds 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.