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

Kelly Services, Inc. (NASDAQ:KELYB)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $22.80, but opened at $20.03. Kelly Services shares last traded at $22.89, with a volume of 2,505 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Kelly Services in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Kelly Services Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a fifty day simple moving average of $21.31 and a two-hundred day simple moving average of $17.80. The stock has a market capitalization of $793.60 million, a price-to-earnings ratio of -2.93 and a beta of 0.82.

Kelly Services (NASDAQ:KELYB) last announced 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 positive return on equity of 2.69% and a negative net margin of 6.73%.The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion.

Kelly Services Announces Dividend

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

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.