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

Shares of Kelly Services, Inc. (NASDAQ:KELYB) gapped down prior to trading on Wednesday . The stock had previously closed at $24.34, but opened at $23.11. Kelly Services shares last traded at $23.6560, with a volume of 367 shares traded.

Wall Street Analysts Forecast Growth

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

Kelly Services Price Performance

The firm has a market capitalization of $820.13 million, a PE ratio of -3.11 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a 50-day simple moving average of $19.86 and a 200-day simple moving average of $16.37.

Kelly Services (NASDAQ:KELYB) last released its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Kelly Services had a negative net margin of 6.44% and a positive return on equity of 3.07%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, May 18th. Kelly Services’s dividend payout ratio is currently -3.95%.

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.