Kelly Services (NASDAQ:KELYA) Price Target Lowered to $25.00 at Barrington Research

Kelly Services (NASDAQ:KELYA - Free Report) had its target price lowered by Barrington Research from $29.00 to $25.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the business services provider's stock.

Separately, StockNews.com downgraded shares of Kelly Services from a "buy" rating to a "hold" rating in a report on Friday, August 9th.

Kelly Services Stock Down 1.6 %

Shares of NASDAQ:KELYA traded down $0.23 during trading on Monday, hitting $14.16. The stock had a trading volume of 439,397 shares, compared to its average volume of 229,829. The firm's fifty day moving average is $19.95 and its 200 day moving average is $21.05. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $503.67 million, a PE ratio of 12.31, a PEG ratio of 0.54 and a beta of 1.20. Kelly Services has a 12 month low of $14.16 and a 12 month high of $25.27.

Kelly Services (NASDAQ:KELYA - Get Free Report) last issued its 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). Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the prior year, the business posted $0.50 earnings per share. The business's revenue for the quarter was down 7.1% on a year-over-year basis. Analysts anticipate that Kelly Services will post 2.07 EPS for the current fiscal year.

Kelly Services Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. Kelly Services's payout ratio is 26.09%.

Institutional Investors Weigh In On Kelly Services

Hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. raised its position 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 purchasing an additional 668 shares during the last quarter. Bailard Inc. raised its position in Kelly Services by 6.9% in the second quarter. Bailard Inc. now owns 10,874 shares of the business services provider's stock valued at $233,000 after purchasing an additional 700 shares during the period. US Bancorp DE grew its holdings in shares of Kelly Services by 9.3% in the third quarter. US Bancorp DE now owns 10,135 shares of the business services provider's stock valued at $217,000 after purchasing an additional 866 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Kelly Services during the 2nd quarter worth $30,000. Finally, Innealta Capital LLC purchased a new position in Kelly Services in the second quarter worth approximately $39,000. Hedge funds and other institutional investors 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.