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

Shares of Kelly Services, Inc. (NASDAQ:KELYB) gapped up prior to trading on Tuesday . The stock had previously closed at $22.00, but opened at $23.00. Kelly Services shares last traded at $23.7190, with a volume of 2,229 shares traded.

Wall Street Analyst Weigh In

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

Kelly Services Stock Performance

The company has a market cap of $830.03 million, a price-to-earnings ratio of -3.15 and a beta of 0.81. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $18.28 and its 200 day moving average price is $15.25.

Kelly Services (NASDAQ:KELYB) last released 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). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were given 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 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.