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

Shares of Kelly Services, Inc. (NASDAQ:KELYB) gapped up prior to trading on Monday. The stock had previously closed at $22.19, but opened at $23.29. Kelly Services shares last traded at $22.7950, with a volume of 10,800 shares trading 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, September 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Kelly Services Trading Up 2.8%

The firm’s 50-day simple moving average is $22.73 and its 200 day simple moving average is $19.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $792.02 million, a price-to-earnings ratio of -2.92 and a beta of 0.85.

Kelly Services (NASDAQ:KELYB) last issued its earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share 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 firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion.

Kelly Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.0750 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.30 annualized dividend and a yield of 1.3%. Kelly Services’s payout ratio is presently -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.