Kelly Services, Inc. (NASDAQ:KELYB) Sees Significant Decrease in Short Interest

Kelly Services, Inc. (NASDAQ:KELYB) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 711 shares, a drop of 48.3% from the June 15th total of 1,375 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 1,396 shares, the days-to-cover ratio is currently 0.5 days.

Kelly Services Price Performance

Shares of KELYB stock traded down $1.21 on Wednesday, reaching $22.64. The company’s stock had a trading volume of 1,297 shares, compared to its average volume of 1,493. The company has a market capitalization of $785.10 million, a price-to-earnings ratio of -2.96 and a beta of 0.81. Kelly Services has a 1 year low of $8.38 and a 1 year high of $125.00. 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 fifty day simple moving average is $19.12 and its 200-day simple moving average is $15.85.

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

Kelly Services Announces Dividend

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

Wall Street Analysts Forecast Growth

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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.