Kelly Services, Inc. (NASDAQ:KELYA) Expected to Earn Q3 2024 Earnings of $0.45 Per Share

Kelly Services, Inc. (NASDAQ:KELYA) – Analysts at Noble Financial raised their Q3 2024 EPS estimates for Kelly Services in a note issued to investors on Thursday, June 20th. Noble Financial analyst J. Gomes now anticipates that the business services provider will post earnings of $0.45 per share for the quarter, up from their previous estimate of $0.32. The consensus estimate for Kelly Services’ current full-year earnings is $1.87 per share. Noble Financial also issued estimates for Kelly Services’ Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $2.30 EPS and FY2025 earnings at $3.25 EPS.

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Kelly Services in a report on Tuesday, May 28th.

Kelly Services Price Performance

Shares of Kelly Services stock opened at $21.97 on Monday. The firm has a fifty day moving average price of $22.52 and a 200 day moving average price of $22.46. Kelly Services has a 1 year low of $16.62 and a 1 year high of $25.27. The stock has a market cap of $780.37 million, a PE ratio of 15.81, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Thursday, May 9th. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.10. Kelly Services had a net margin of 1.11% and a return on equity of 6.87%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its stake in shares of Kelly Services by 2.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 64,668 shares of the business services provider’s stock worth $1,398,000 after purchasing an additional 1,520 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Kelly Services by 11.2% during the first quarter. Janney Montgomery Scott LLC now owns 23,939 shares of the business services provider’s stock worth $599,000 after purchasing an additional 2,405 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Kelly Services by 5.4% during the first quarter. New York State Teachers Retirement System now owns 58,882 shares of the business services provider’s stock worth $1,474,000 after purchasing an additional 3,002 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Kelly Services by 1.1% during the third quarter. American Century Companies Inc. now owns 295,539 shares of the business services provider’s stock worth $5,376,000 after purchasing an additional 3,319 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Kelly Services by 10.7% during the fourth quarter. Mackenzie Financial Corp now owns 43,691 shares of the business services provider’s stock worth $945,000 after purchasing an additional 4,228 shares in the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were issued a $0.075 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.30 dividend on an annualized basis and a yield of 1.37%. Kelly Services’s payout ratio is 21.58%.

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.