Kelly Services (NASDAQ:KELYB) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Kelly Services (NASDAQ:KELYB) released its earnings results on Thursday. The business services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.19, Zacks reports. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%.

Kelly Services Stock Performance

Shares of NASDAQ KELYB traded down $0.94 during midday trading on Friday, hitting $22.20. 281 shares of the company’s stock were exchanged, compared to its average volume of 953. The company has a quick ratio of 1.59, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $769.50 million, a PE ratio of -2.84 and a beta of 0.82. Kelly Services has a 12 month low of $8.38 and a 12 month high of $125.00. The company’s 50 day moving average price is $21.15 and its 200 day moving average price is $17.49.

Kelly Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, August 19th. Kelly Services’s payout ratio is currently -3.95%.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Kelly Services Company Profile

Kelly Services, Inc engages in staffing and workforce solutions. It operates through the following segments: Americas Staffing, Global Talent Solutions, and International Staffing. The Americas Staffing segment delivers temporary staffing, as well as direct-hire placement services, in a number of specialty staffing services, including office, education, marketing, electronic assembly, light industrial, science, engineering, and information technology in United States, Puerto Rico, Canada, Mexico and Brazil.