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

Kelly Services, Inc. (NASDAQ:KELYB)’s share price 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 changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of 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, Based on data from MarketBeat, the company has an average rating of “Sell”.

Kelly Services Trading Down 6.9%

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’s 50 day moving average is $17.97 and its two-hundred day moving average is $14.98. The company has a market capitalization of $755.63 million, a PE ratio of -2.87 and a beta of 0.81.

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

Kelly Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.30 dividend on an annualized basis and a yield of 1.4%. Kelly Services’s payout ratio is -3.95%.

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.