FY2017 Earnings Estimate for Kelly Services, Inc. (NASDAQ:KELYA) Issued By Northcoast Research

Kelly Services, Inc. (NASDAQ:KELYA) – Investment analysts at Northcoast Research boosted their FY2017 EPS estimates for shares of Kelly Services in a research note issued on Thursday. Northcoast Research analyst J. Healy now forecasts that the business services provider will earn $1.73 per share for the year, up from their prior forecast of $1.72. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for Kelly Services’ Q4 2017 earnings at $0.59 EPS.

KELYA has been the topic of several other reports. ValuEngine raised Kelly Services from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research raised Kelly Services from a “hold” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, May 16th. Finally, BidaskClub raised Kelly Services from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th.

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Kelly Services (NASDAQ:KELYA) traded down 0.55% during trading on Friday, hitting $21.69. 11,004 shares of the company’s stock traded hands. The company’s 50 day moving average price is $22.56 and its 200 day moving average price is $22.18. Kelly Services has a 52-week low of $18.01 and a 52-week high of $24.70. The company has a market cap of $830.71 million, a PE ratio of 6.50 and a beta of 0.98.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.24. Kelly Services had a net margin of 2.58% and a return on equity of 6.88%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 22nd will be paid a $0.075 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.30 annualized dividend and a yield of 1.38%. Kelly Services’s payout ratio is 8.85%.

In related news, insider Antonina M. Ramsey sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $24.13, for a total value of $361,950.00. Following the sale, the insider now directly owns 47,678 shares of the company’s stock, valued at $1,150,470.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Donald R. Parfet sold 22,029 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $23.10, for a total value of $508,869.90. Following the completion of the sale, the director now directly owns 23,520 shares in the company, valued at $543,312. The disclosure for this sale can be found here. 16.10% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Kelly Services during the fourth quarter valued at $14,457,000. LSV Asset Management boosted its stake in shares of Kelly Services by 21.8% in the first quarter. LSV Asset Management now owns 801,261 shares of the business services provider’s stock valued at $17,515,000 after buying an additional 143,261 shares during the last quarter. WBI Investments Inc. purchased a new stake in shares of Kelly Services during the first quarter valued at $547,000. Prudential Financial Inc. boosted its stake in shares of Kelly Services by 0.4% in the first quarter. Prudential Financial Inc. now owns 50,288 shares of the business services provider’s stock valued at $1,099,000 after buying an additional 180 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its stake in shares of Kelly Services by 17.6% in the first quarter. Gotham Asset Management LLC now owns 32,146 shares of the business services provider’s stock valued at $703,000 after buying an additional 4,807 shares during the last quarter. 65.86% of the stock is currently owned by institutional investors.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions provider, which is engaged in offering a range of specialty services. The Company provides workforce solutions in three regions: the Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). The Company’s segments are Americas Commercial, Americas Professional and Technical (Americas PT), EMEA Commercial, EMEA Professional and Technical (EMEA PT), and Outsourcing and Consulting Group (OCG).

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