Kelly Services (NASDAQ:KELYB) Shares Gap Up – Here’s What Happened

Kelly Services, Inc. (NASDAQ:KELYB)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $22.19, but opened at $23.00. Kelly Services shares last traded at $22.1930, with a volume of 4,841 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Kelly Services from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Kelly Services Price Performance

The business has a 50 day simple moving average of $22.61 and a two-hundred day simple moving average of $19.90. The firm has a market capitalization of $770.76 million, a P/E ratio of -2.84 and a beta of 0.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.50 and a current ratio of 1.50.

Kelly Services (NASDAQ:KELYB) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.18 by $0.19. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Kelly Services had a positive return on equity of 2.69% and a negative net margin of 6.73%.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were issued a $0.0750 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.4%. Kelly Services’s dividend payout ratio is presently -3.84%.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions company that provides staffing, recruiting and talent management services to businesses and organizations. Its offerings include temporary and direct-hire placement, workforce outsourcing, recruitment process outsourcing, managed service programs and other services designed to help employers source, deploy and retain talent.

The company serves a range of industries through specialized businesses, including Kelly Professional & Industrial, Kelly Science & Clinical, Kelly Engineering and Kelly Education.