Zacks: Analysts Expect Kelly Services, Inc. (NASDAQ:KELYA) Will Post Quarterly Sales of $1.30 Billion

Brokerages expect Kelly Services, Inc. (NASDAQ:KELYA) to post sales of $1.30 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Kelly Services’ earnings. The highest sales estimate is $1.31 billion and the lowest is $1.29 billion. Kelly Services posted sales of $1.24 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 17th.

According to Zacks, analysts expect that Kelly Services will report full-year sales of $4.96 billion for the current financial year, with estimates ranging from $4.95 billion to $4.97 billion. For the next financial year, analysts expect that the company will report sales of $5.32 billion, with estimates ranging from $5.26 billion to $5.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Kelly Services.

Kelly Services (NASDAQ:KELYA) last issued its earnings results on Wednesday, November 10th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). Kelly Services had a return on equity of 4.13% and a net margin of 2.20%. During the same quarter in the previous year, the firm posted $0.29 earnings per share.

Several research analysts have recently weighed in on KELYA shares. Northcoast Research upgraded shares of Kelly Services from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, August 10th. Zacks Investment Research cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research note on Wednesday, November 17th. Finally, TheStreet cut shares of Kelly Services from a “b-” rating to a “c+” rating in a research note on Friday, August 13th. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $27.00.

Shares of Kelly Services stock traded down $0.15 on Thursday, hitting $18.18. 125,185 shares of the company’s stock were exchanged, compared to its average volume of 162,056. The firm has a 50-day moving average of $19.17. The company has a market capitalization of $716.09 million, a PE ratio of 6.73 and a beta of 1.17. Kelly Services has a 1 year low of $17.26 and a 1 year high of $26.98.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 8th. Stockholders of record on Wednesday, November 24th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.10%. Kelly Services’s dividend payout ratio (DPR) is presently 7.41%.

Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new position in Kelly Services during the 2nd quarter valued at about $14,355,000. FMR LLC grew its holdings in Kelly Services by 23.1% during the 2nd quarter. FMR LLC now owns 1,612,367 shares of the business services provider’s stock valued at $38,648,000 after purchasing an additional 302,047 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Kelly Services by 23.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 828,956 shares of the business services provider’s stock valued at $19,870,000 after purchasing an additional 157,416 shares during the last quarter. Vanguard Group Inc. grew its holdings in Kelly Services by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,707,450 shares of the business services provider’s stock valued at $88,868,000 after purchasing an additional 146,854 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Kelly Services by 2.2% during the 3rd quarter. BlackRock Inc. now owns 6,087,339 shares of the business services provider’s stock valued at $114,929,000 after purchasing an additional 130,857 shares during the last quarter. Hedge funds and other institutional investors own 71.07% of the company’s stock.

Kelly Services Company Profile

Kelly Services, Inc engages in staffing and workforce solutions. It operates through the following segments: Americas Staffing, Global Talent Solutions, and International Staffing. The Americas Staffing segment delivers temporary staffing, as well as direct-hire placement services, in a number of specialty staffing services, including office, education, marketing, electronic assembly, light industrial, science, engineering, and information technology in United States, Puerto Rico, Canada, Mexico and Brazil.

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