Kelly Services, Inc. (NASDAQ:KELYB) Sees Significant Increase in Short Interest

Kelly Services, Inc. (NASDAQ:KELYB) was the recipient of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 2,947 shares, a growth of 245.1% from the May 14th total of 854 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 4,515 shares, the short-interest ratio is currently 0.7 days.

Kelly Services Trading Up 10.2%

Shares of KELYB traded up $1.83 during mid-day trading on Friday, reaching $19.79. The company had a trading volume of 1,483 shares, compared to its average volume of 3,231. The stock has a market cap of $685.95 million, a price-to-earnings ratio of -2.60 and a beta of 0.81. The firm has a fifty day simple moving average of $17.08 and a 200-day simple moving average of $14.02. Kelly Services has a fifty-two week low of $8.38 and a fifty-two week high of $125.00. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.13.

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

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Monday, May 18th were issued a dividend of $0.075 per share. The ex-dividend date was Monday, May 18th. This represents a $0.30 annualized dividend and a dividend yield of 1.5%. Kelly Services’s payout ratio is presently -3.95%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Kelly Services from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.