Kelly Services, Inc. (NASDAQ:KELYA) to Issue Quarterly Dividend of $0.08

Kelly Services, Inc. (NASDAQ:KELYA) announced a quarterly dividend on Tuesday, November 7th, NASDAQ reports. Investors of record on Wednesday, November 22nd will be given a dividend of 0.075 per share by the business services provider on Wednesday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Tuesday, November 21st.

Kelly Services has decreased its dividend payment by an average of 2.9% per year over the last three years and has increased its dividend every year for the last 1 years. Kelly Services has a payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kelly Services to earn $2.16 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 13.9%.

Kelly Services Price Performance

Shares of KELYA stock opened at $20.80 on Monday. The firm has a 50-day moving average of $18.56 and a 200-day moving average of $18.14. Kelly Services has a one year low of $15.07 and a one year high of $21.08. The company has a market cap of $736.32 million, a P/E ratio of 32.00, a P/E/G ratio of 0.93 and a beta of 1.11.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings data on Thursday, November 9th. The business services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.25 by $0.25. Kelly Services had a net margin of 0.50% and a return on equity of 4.32%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts expect that Kelly Services will post 1.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KELYA shares. TheStreet upgraded Kelly Services from a “c” rating to a “b-” rating in a research note on Thursday, November 9th. Barrington Research restated an “outperform” rating and set a $26.00 price target on shares of Kelly Services in a research report on Wednesday, November 15th. Finally, StockNews.com raised shares of Kelly Services from a “hold” rating to a “buy” rating in a research report on Friday, October 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KELYA. Royal Bank of Canada boosted its stake in Kelly Services by 131.6% during the third quarter. Royal Bank of Canada now owns 2,121 shares of the business services provider’s stock valued at $29,000 after buying an additional 1,205 shares during the period. UBS Group AG lifted its stake in Kelly Services by 7,115.6% in the second quarter. UBS Group AG now owns 2,309 shares of the business services provider’s stock worth $46,000 after purchasing an additional 2,277 shares during the last quarter. Quarry LP purchased a new stake in Kelly Services during the second quarter valued at about $69,000. Quantbot Technologies LP bought a new position in shares of Kelly Services during the second quarter valued at about $73,000. Finally, Captrust Financial Advisors lifted its stake in shares of Kelly Services by 43.0% in the 1st quarter. Captrust Financial Advisors now owns 3,407 shares of the business services provider’s stock valued at $74,000 after acquiring an additional 1,024 shares during the last quarter. 73.09% of the stock is currently owned by hedge funds and other institutional investors.

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 placement services in the areas of office, professional, light industrial, and contact center specialties.