Kelly Services (NASDAQ:KELYA) Hits New 52-Week Low on Disappointing Earnings

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $17.18 and last traded at $17.20, with a volume of 40165 shares traded. The stock had previously closed at $18.14.

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 1.09% and a return on equity of 7.82%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business earned $0.50 EPS. The company's revenue for the quarter was down 7.1% on a year-over-year basis.

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 1.82%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services's dividend payout ratio (DPR) is currently 26.09%.

Wall Street Analyst Weigh In

KELYA has been the topic of several research reports. StockNews.com lowered Kelly Services from a "buy" rating to a "hold" rating in a research note on Friday, August 9th. Barrington Research restated an "outperform" rating and issued a $29.00 target price on shares of Kelly Services in a research note on Friday, September 27th.

Institutional Investors Weigh In On Kelly Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Kelly Services during the second quarter worth $30,000. Innealta Capital LLC bought a new stake in Kelly Services during the 2nd quarter worth about $39,000. nVerses Capital LLC acquired a new position in Kelly Services during the 2nd quarter valued at about $47,000. Meeder Asset Management Inc. bought a new position in shares of Kelly Services in the 2nd quarter valued at about $51,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Kelly Services during the 1st quarter worth approximately $125,000. Institutional investors and hedge funds own 76.34% of the company's stock.

Kelly Services Stock Performance

The stock's 50 day moving average is $20.55 and its two-hundred day moving average is $21.40. The firm has a market capitalization of $587.58 million, a P/E ratio of 15.01, a P/E/G ratio of 0.63 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.61.

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.