Kelly Services (NASDAQ:KELYB) Sees Large Volume Increase – Here’s What Happened

Shares of Kelly Services, Inc. (NASDAQ:KELYB) saw unusually-strong trading volume on Friday . 56,439 shares were traded during mid-day trading, an increase of 102% from the previous session’s volume of 27,997 shares.The stock last traded at $22.79 and had previously closed at $22.88.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Kelly Services from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Kelly Services Stock Performance

The firm’s fifty day moving average price is $22.85 and its 200-day moving average price is $18.98. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.08. The company has a market cap of $797.79 million, a P/E ratio of -2.94 and a beta of 0.85.

Kelly Services (NASDAQ:KELYB) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Kelly Services had a positive return on equity of 2.69% and a negative net margin of 6.73%.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, August 19th. Kelly Services’s dividend payout ratio (DPR) is -3.84%.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions and staffing company that connects employers with workers across a range of industries and skill levels. The company provides temporary, contract, temp-to-hire and direct-hire staffing, along with workforce management and outsourcing services.

Its business serves several specialized markets, including education, science and engineering, professional and industrial staffing, and office and administrative support. Kelly also offers recruiting, talent management, payroll and compliance support, and other services designed to help organizations manage contingent and permanent workforces.

Founded in Detroit in 1946 by William Russell Kelly, the company is recognized as one of the pioneers of the temporary staffing industry.