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

Kelly Services, Inc. (NASDAQ:KELYB)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $23.27, but opened at $24.10. Kelly Services shares last traded at $23.7710, with a volume of 334 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Kelly Services from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Kelly Services Stock Performance

The firm has a market capitalization of $808.90 million, a price-to-earnings ratio of -2.98 and a beta of 0.85. 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 firm’s 50 day simple moving average is $22.47 and its 200 day simple moving average is $18.35.

Kelly Services (NASDAQ:KELYB) last posted its earnings results on Thursday, August 6th. The business services provider reported $0.37 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 company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion.

Kelly Services Dividend Announcement

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