Shares of Kelly Services, Inc. (NASDAQ:KELYA – Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $22.25, but opened at $19.06. Kelly Services shares last traded at $18.76, with a volume of 23,564 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Barrington Research reissued an “outperform” rating and set a $29.00 target price on shares of Kelly Services in a research note on Friday, September 27th. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.
Check Out Our Latest Report on KELYA
Kelly Services Trading Down 16.4 %
Kelly Services (NASDAQ:KELYA – Get Free Report) last posted its earnings results on Thursday, August 8th. The business services provider reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.15. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $0.36 EPS. The company’s revenue was down 13.1% on a year-over-year basis. As a group, equities analysts expect that Kelly Services, Inc. will post 2.49 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Kelly Services
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Kelly Services during the second quarter worth about $30,000. Innealta Capital LLC acquired a new position in shares of Kelly Services in the second quarter valued at approximately $39,000. nVerses Capital LLC purchased a new stake in shares of Kelly Services during the second quarter worth approximately $47,000. Meeder Asset Management Inc. acquired a new stake in shares of Kelly Services during the second quarter worth $51,000. Finally, SG Americas Securities LLC acquired a new position in Kelly Services in the 1st quarter valued at $125,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.
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.
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