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

Kelly Services, Inc. (NASDAQ:KELYB) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 1,375 shares, a drop of 53.3% from the May 31st total of 2,947 shares. Based on an average trading volume of 2,265 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the shares of the stock are short sold.

Kelly Services Price Performance

Shares of KELYB stock traded up $1.51 during mid-day trading on Wednesday, reaching $23.40. The stock had a trading volume of 3,241 shares, compared to its average volume of 35,437. Kelly Services has a 12-month low of $8.38 and a 12-month high of $125.00. The company has a market cap of $811.28 million, a P/E ratio of -3.08 and a beta of 0.81. The business has a 50-day simple moving average of $17.82 and a 200 day simple moving average of $14.88. 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 released its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Kelly Services had a positive return on equity of 3.07% and a negative net margin of 6.44%.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Monday, May 18th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, May 18th. Kelly Services’s dividend payout ratio is -3.95%.

Analysts Set New Price Targets

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

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.