Kelly Services (NASDAQ:KELYA) Sets New 1-Year Low – What’s Next?

Kelly Services, Inc. (NASDAQ:KELYA) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.47 and last traded at $15.47, with a volume of 23522 shares changing hands. The stock had previously closed at $15.68.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KELYA shares. StockNews.com lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 target price on shares of Kelly Services in a research note on Friday, September 27th.

Kelly Services Trading Down 4.4 %

The company’s fifty day moving average is $19.95 and its two-hundred day moving average is $21.08. The stock has a market cap of $511.85 million, a price-to-earnings ratio of 12.51, a PEG ratio of 0.58 and a beta of 1.20. 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 announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. On average, research analysts predict that Kelly Services, Inc. will post 2.07 EPS for the current fiscal year.

Kelly Services Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. raised its stake in shares of Kelly Services by 6.8% during 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 during the last quarter. Bailard Inc. raised its stake in shares of Kelly Services by 6.9% during 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 during the last quarter. US Bancorp DE raised its stake in shares of Kelly Services by 9.3% during the 3rd quarter. US Bancorp DE now owns 10,135 shares of the business services provider’s stock worth $217,000 after buying an additional 866 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Kelly Services during the 2nd quarter worth $30,000. Finally, Innealta Capital LLC acquired a new position in shares of Kelly Services during the 2nd quarter worth $39,000. 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.