Kelly Services (NASDAQ:KELYB) Shares Gap Down – Here’s Why

Kelly Services, Inc. (NASDAQ:KELYB)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $23.19, but opened at $21.80. Kelly Services shares last traded at $24.8430, with a volume of 765 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Kelly Services from a “sell (d-)” rating to a “sell (d+)” rating in a report on Friday, August 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Kelly Services Stock Down 3.4%

The company has a market cap of $771.01 million, a PE ratio of -2.84 and a beta of 0.82. The stock’s 50 day moving average price is $22.05 and its 200-day moving average price is $18.39. 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 earnings results on Thursday, August 6th. The business services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The company had revenue of $1.04 billion for 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Kelly Services’s dividend payout ratio (DPR) is -3.84%.

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.