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

Kelly Services, Inc. (NASDAQ:KELYB) shares gapped up prior to trading on Wednesday . The stock had previously closed at $23.27, but opened at $24.10. Kelly Services shares last traded at $23.7710, with a volume of 334 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded 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, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Kelly Services Trading Down 3.7%

The stock has a market capitalization of $808.90 million, a P/E ratio of -2.98 and a beta of 0.85. The stock’s fifty day moving average price is $22.47 and its two-hundred day moving average price is $18.35. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08.

Kelly Services (NASDAQ:KELYB) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.30 annualized dividend and a dividend yield of 1.3%. Kelly Services’s dividend payout ratio (DPR) is presently -3.84%.

About Kelly Services

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.