Kelly Services (NASDAQ:KELYB) Sees Strong Trading Volume – Time to Buy?

Kelly Services, Inc. (NASDAQ:KELYB) shares saw unusually-high trading volume on Friday . 56,439 shares changed hands during mid-day trading, an increase of 102% from the previous session’s volume of 27,997 shares.The stock last traded at $22.79 and had previously closed at $22.88.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Kelly Services from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Kelly Services Stock Performance

The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The stock has a market cap of $797.79 million, a P/E ratio of -2.94 and a beta of 0.85. The firm’s 50-day moving average is $22.85 and its two-hundred day moving average is $18.98.

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 the consensus estimate 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion.

Kelly Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, August 19th. Kelly Services’s payout ratio is -3.84%.

Kelly Services Company Profile

Kelly Services, Inc is a workforce solutions and staffing company that connects employers with workers across a range of industries and skill levels. The company provides temporary, contract, temp-to-hire and direct-hire staffing, along with workforce management and outsourcing services.

Its business serves several specialized markets, including education, science and engineering, professional and industrial staffing, and office and administrative support. Kelly also offers recruiting, talent management, payroll and compliance support, and other services designed to help organizations manage contingent and permanent workforces.

Founded in Detroit in 1946 by William Russell Kelly, the company is recognized as one of the pioneers of the temporary staffing industry.