Sidoti Csr Research Analysts Raise Earnings Estimates for Kelly Services, Inc. (NASDAQ:KELYA)

Kelly Services, Inc. (NASDAQ:KELYA) – Equities research analysts at Sidoti Csr increased their Q3 2024 earnings per share estimates for shares of Kelly Services in a research note issued on Thursday, June 20th. Sidoti Csr analyst M. Riddick now anticipates that the business services provider will post earnings of $0.29 per share for the quarter, up from their prior forecast of $0.15. The consensus estimate for Kelly Services’ current full-year earnings is $1.87 per share. Sidoti Csr also issued estimates for Kelly Services’ FY2024 earnings at $1.95 EPS and FY2025 earnings at $2.39 EPS.

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

Kelly Services Price Performance

Shares of NASDAQ:KELYA opened at $21.97 on Monday. The company has a market capitalization of $780.37 million, a price-to-earnings ratio of 15.81, a P/E/G ratio of 0.89 and a beta of 1.24. The business’s 50-day moving average is $22.52 and its 200-day moving average is $22.46. Kelly Services has a 1 year low of $16.62 and a 1 year high of $25.27.

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

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.37%. Kelly Services’s dividend payout ratio is currently 21.58%.

Institutional Investors Weigh In On Kelly Services

Institutional investors have recently made changes to their positions in the stock. Comerica Bank purchased a new stake in shares of Kelly Services during the third quarter worth $10,485,000. ARGA Investment Management LP raised its position in shares of Kelly Services by 167.0% in the fourth quarter. ARGA Investment Management LP now owns 33,010 shares of the business services provider’s stock worth $714,000 after buying an additional 20,645 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Kelly Services in the fourth quarter worth $1,730,000. AQR Capital Management LLC raised its position in shares of Kelly Services by 24.2% in the third quarter. AQR Capital Management LLC now owns 325,937 shares of the business services provider’s stock worth $5,929,000 after buying an additional 63,536 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Kelly Services by 3.6% in the third quarter. Invesco Ltd. now owns 1,491,736 shares of the business services provider’s stock worth $27,135,000 after buying an additional 51,283 shares in the last quarter. Hedge funds and other institutional investors own 76.34% of the company’s stock.

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.