Kelly Services, Inc. (NASDAQ:KELYA) to Post Q2 2024 Earnings of $0.58 Per Share, Noble Financial Forecasts

Kelly Services, Inc. (NASDAQ:KELYA) – Equities researchers at Noble Financial lifted their Q2 2024 earnings estimates for Kelly Services in a research note issued to investors on Thursday, June 20th. Noble Financial analyst J. Gomes now expects that the business services provider will post earnings of $0.58 per share for the quarter, up from their prior estimate of $0.51. The consensus estimate for Kelly Services’ current full-year earnings is $1.87 per share.

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

Kelly Services Stock Performance

Shares of KELYA stock opened at $21.97 on Friday. Kelly Services has a 52 week low of $16.62 and a 52 week high of $25.27. The company has a market capitalization of $780.37 million, a price-to-earnings ratio of 15.81, a PEG ratio of 0.87 and a beta of 1.24. The company has a 50-day simple moving average of $22.52 and a 200 day simple moving average of $22.44.

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

Hedge Funds Weigh In On Kelly Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in KELYA. Los Angeles Capital Management LLC boosted its stake in shares of Kelly Services by 2.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 64,668 shares of the business services provider’s stock valued at $1,398,000 after purchasing an additional 1,520 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Kelly Services by 11.2% in the first quarter. Janney Montgomery Scott LLC now owns 23,939 shares of the business services provider’s stock worth $599,000 after acquiring an additional 2,405 shares during the period. New York State Teachers Retirement System boosted its holdings in Kelly Services by 5.4% in the first quarter. New York State Teachers Retirement System now owns 58,882 shares of the business services provider’s stock valued at $1,474,000 after acquiring an additional 3,002 shares during the last quarter. American Century Companies Inc. increased its position in Kelly Services by 1.1% during the 3rd quarter. American Century Companies Inc. now owns 295,539 shares of the business services provider’s stock valued at $5,376,000 after purchasing an additional 3,319 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Kelly Services by 10.7% during the 4th quarter. Mackenzie Financial Corp now owns 43,691 shares of the business services provider’s stock worth $945,000 after purchasing an additional 4,228 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.

Kelly Services Announces Dividend

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

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.