Kelly Services (NASDAQ:KELYA) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Kelly Services (NASDAQ:KELYA) released its quarterly earnings results on Wednesday. The business services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.56 by $0.16, Briefing.com reports. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.42 billion. Kelly Services had a net margin of 0.29% and a return on equity of 7.94%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share.

KELYA stock traded up $0.05 during mid-day trading on Wednesday, reaching $27.32. 75,118 shares of the stock traded hands, compared to its average volume of 136,750. Kelly Services has a 52-week low of $19.21 and a 52-week high of $28.58. The stock has a market capitalization of $1.05 billion, a P/E ratio of 12.04 and a beta of 0.76. The stock has a fifty day moving average of $26.43.

Several research firms have recently commented on KELYA. Zacks Investment Research lowered shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. ValuEngine raised shares of Kelly Services from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. BidaskClub raised shares of Kelly Services from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. TheStreet raised shares of Kelly Services from a “c+” rating to a “b” rating in a report on Monday, May 6th. Finally, Noble Financial assumed coverage on shares of Kelly Services in a report on Tuesday, July 30th. They issued an “outperform” rating and a $32.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Kelly Services has a consensus rating of “Buy” and an average price target of $32.33.

In other news, EVP Teresa Carroll sold 14,661 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $25.06, for a total value of $367,404.66. Following the transaction, the executive vice president now owns 89,907 shares in the company, valued at approximately $2,253,069.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is currently owned by corporate insiders.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries worldwide. The company operates through three segments: Americas Staffing, Global Talent Solutions, and International Staffing. It provides trained employees for data entry, clerical, and administrative support roles across various industries; schools with instructional and non-instructional employees; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial works; scientists, and scientific and clinical research workforce solutions; engineering professionals across various disciplines, including aeronautical, chemical, civil/structural, electrical/instrumentation, environmental, industrial, mechanical, petroleum, pharmaceutical, quality, and telecommunications.

See Also: How to find the components of the quick ratio

Earnings History for Kelly Services (NASDAQ:KELYA)

Receive News & Ratings for Kelly Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kelly Services and related companies with MarketBeat.com's FREE daily email newsletter.