Kelly Services, Inc. (NASDAQ:KELYB) Short Interest Down 43.3% in August

Kelly Services, Inc. (NASDAQ:KELYB) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 548 shares, a decline of 43.3% from the August 15th total of 967 shares. Based on an average daily volume of 437 shares, the short-interest ratio is currently 1.3 days. Currently, 0.0% of the shares of the company are short sold.

Kelly Services Trading Up 1.5%

Shares of Kelly Services stock opened at $22.82 on Tuesday. Kelly Services has a 52-week low of $8.38 and a 52-week high of $125.00. The firm has a 50-day moving average of $22.88 and a 200-day moving average of $18.83. The stock has a market cap of $792.58 million, a PE ratio of -2.92 and a beta of 0.85. 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 results on Thursday, August 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a $0.075 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.30 annualized dividend and a dividend yield of 1.3%. Kelly Services’s payout ratio is presently -3.84%.

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 Friday, September 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions and staffing company that connects employers with workers across a range of industries and skill levels. The company provides temporary, contract, temp-to-hire and direct-hire staffing, along with workforce management and outsourcing services.

Its business serves several specialized markets, including education, science and engineering, professional and industrial staffing, and office and administrative support. Kelly also offers recruiting, talent management, payroll and compliance support, and other services designed to help organizations manage contingent and permanent workforces.

Founded in Detroit in 1946 by William Russell Kelly, the company is recognized as one of the pioneers of the temporary staffing industry.