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

Shares of Kelly Services, Inc. (NASDAQ:KELYB) gapped up before the market opened on Monday. The stock had previously closed at $22.19, but opened at $23.00. Kelly Services shares last traded at $22.1930, with a volume of 4,841 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Kelly Services from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has an average rating of “Sell”.

Kelly Services Stock Up 0.0%

The company has a market capitalization of $770.76 million, a P/E ratio of -2.84 and a beta of 0.86. 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 stock’s fifty day moving average is $22.61 and its 200 day moving average is $19.90.

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

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a dividend of $0.0750 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Wednesday, August 19th. Kelly Services’s payout ratio is currently -3.84%.

About Kelly Services

Kelly Services, Inc is a workforce solutions company that provides staffing, recruiting and talent management services to businesses and organizations. Its offerings include temporary and direct-hire placement, workforce outsourcing, recruitment process outsourcing, managed service programs and other services designed to help employers source, deploy and retain talent.

The company serves a range of industries through specialized businesses, including Kelly Professional & Industrial, Kelly Science & Clinical, Kelly Engineering and Kelly Education.