Kelly Services, Inc. (NASDAQ:KELYA) Plans $0.08 Quarterly Dividend

Kelly Services, Inc. (NASDAQ:KELYA) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Investors of record on Tuesday, August 20th will be paid a dividend of 0.075 per share by the business services provider on Friday, August 30th. This represents a $0.30 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, August 19th.

Kelly Services has raised its dividend by an average of 14.5% per year over the last three years. Kelly Services has a payout ratio of 14.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kelly Services to earn $2.33 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 12.9%.

Kelly Services stock opened at $27.53 on Friday. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 12.13 and a beta of 0.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.50 and a quick ratio of 1.50. Kelly Services has a 1 year low of $19.21 and a 1 year high of $28.91. The firm has a 50-day moving average of $27.00 and a two-hundred day moving average of $24.46.

Kelly Services (NASDAQ:KELYA) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.16. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Kelly Services had a net margin of 2.09% and a return on equity of 8.41%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. Research analysts expect that Kelly Services will post 2.28 earnings per share for the current year.

Several research firms have issued reports on KELYA. BidaskClub raised shares of Kelly Services from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Zacks Investment Research cut shares of Kelly Services from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Noble Financial began coverage on shares of Kelly Services in a research report on Tuesday, July 30th. They issued an “outperform” rating and a $32.00 price objective for the company. TheStreet raised shares of Kelly Services from a “c+” rating to a “b” rating in a research report on Monday, May 6th. Finally, ValuEngine raised shares of Kelly Services from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $32.33.

In other news, insider James Polehna sold 1,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $27.42, for a total value of $48,917.28. Following the completion of the sale, the insider now owns 21,399 shares of the company’s stock, valued at approximately $586,760.58. 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.

About Kelly Services

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: Return on Equity (ROE)

Dividend History for Kelly Services (NASDAQ:KELYA)

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