Kelly Services (NASDAQ:KELYB) Stock Price Down 7.6% – Here’s What Happened

Shares of Kelly Services, Inc. (NASDAQ:KELYB) fell 7.6% during trading on Thursday . The company traded as low as $16.97 and last traded at $16.1350. 336 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 45,225 shares. The stock had previously closed at $17.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Kelly Services Stock Performance

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.13. The stock has a market cap of $565.54 million, a P/E ratio of -2.15 and a beta of 0.71. The stock has a fifty day simple moving average of $15.10 and a 200-day simple moving average of $12.94.

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

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, May 18th. Kelly Services’s payout ratio is -3.95%.

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.