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

Shares of Kelly Services, Inc. (NASDAQ:KELYB) gapped down prior to trading on Thursday . The stock had previously closed at $23.40, but opened at $19.89. Kelly Services shares last traded at $21.8450, with a volume of 660 shares trading hands.

Analyst Upgrades and Downgrades

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

Kelly Services Price Performance

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 stock has a market capitalization of $747.31 million, a price-to-earnings ratio of -2.84 and a beta of 0.81. The company has a 50-day simple moving average of $18.16 and a two-hundred day simple moving average of $15.12.

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

Kelly Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were given a $0.075 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.30 annualized dividend and a yield of 1.4%. Kelly Services’s dividend payout ratio (DPR) is currently -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.