Kelly Services (NASDAQ:KELYB) Trading Down 9.1% – Here’s Why

Kelly Services, Inc. (NASDAQ:KELYB)’s stock price traded down 9.1% during trading on Monday . The company traded as low as $22.60 and last traded at $20.00. 667 shares were traded during mid-day trading, a decline of 98% from the average session volume of 34,810 shares. The stock had previously closed at $22.00.

Wall Street Analysts Forecast Growth

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

Kelly Services Stock Performance

The stock has a market capitalization of $693.40 million, a P/E ratio of -2.63 and a beta of 0.81. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $18.16 and a two-hundred day moving average price of $15.16.

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 analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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 company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Monday, May 18th were issued a $0.075 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.30 annualized dividend and a dividend yield of 1.5%. Kelly Services’s dividend payout ratio is presently -3.95%.

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.