Kelly Services, Inc. (NASDAQ:KELYA) Sees Large Decrease in Short Interest

Kelly Services, Inc. (NASDAQ:KELYA) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 719,300 shares, a decrease of 6.5% from the October 15th total of 769,000 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average daily volume of 200,300 shares, the days-to-cover ratio is currently 3.6 days.

Analyst Ratings Changes

KELYA has been the subject of several research reports. Barrington Research reissued an “outperform” rating and issued a $29.00 price objective on shares of Kelly Services in a research report on Friday, September 27th. StockNews.com downgraded Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Kelly Services Trading Down 4.4 %

Shares of NASDAQ:KELYA opened at $14.39 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $511.85 million, a P/E ratio of 12.51, a P/E/G ratio of 0.54 and a beta of 1.20. The business’s 50-day moving average is $19.95 and its 200 day moving average is $21.05. Kelly Services has a 1 year low of $14.36 and a 1 year high of $25.27.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. On average, research analysts predict that Kelly Services will post 2.07 earnings per share for the current fiscal year.

Kelly Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s dividend payout ratio is presently 26.09%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new position in Kelly Services in the second quarter valued at approximately $30,000. Innealta Capital LLC acquired a new stake in Kelly Services during the second quarter valued at $39,000. nVerses Capital LLC purchased a new position in Kelly Services in the second quarter valued at $47,000. Meeder Asset Management Inc. acquired a new position in shares of Kelly Services in the second quarter worth about $51,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Kelly Services during the 1st quarter worth about $125,000. Hedge funds and other institutional investors own 76.34% of the company’s stock.

Kelly Services Company Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.