Kelly Services (NASDAQ:KELYA) Sets New 1-Year Low – Should You Sell?

Kelly Services, Inc. (NASDAQ:KELYA)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.75 and last traded at $13.96, with a volume of 351108 shares. The stock had previously closed at $14.08.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KELYA. Barrington Research cut their price target on Kelly Services from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

Kelly Services Stock Performance

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 stock has a market capitalization of $497.12 million, a PE ratio of 12.14, a P/E/G ratio of 0.54 and a beta of 1.20. The firm’s 50 day moving average is $19.56 and its two-hundred day moving average is $20.85.

Kelly Services (NASDAQ:KELYA) last announced its 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 firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, research analysts predict that Kelly Services, Inc. will post 2.07 earnings per share for the current year.

Kelly Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Institutional Trading of Kelly Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Kelly Services during the second quarter worth approximately $30,000. Innealta Capital LLC acquired a new stake in shares of Kelly Services in the second quarter valued at about $39,000. nVerses Capital LLC acquired a new position in Kelly Services during the 2nd quarter worth approximately $47,000. Meeder Asset Management Inc. acquired a new stake in Kelly Services in the second quarter valued at approximately $51,000. Finally, SG Americas Securities LLC purchased a new position in shares of Kelly Services in the first quarter valued at $125,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

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.