Kelly Services (NASDAQ:KELYB) Stock Price Down 7.6% – Here’s What Happened

Shares of Kelly Services, Inc. (NASDAQ:KELYB) dropped 7.6% during mid-day trading on Thursday . The company traded as low as $16.97 and last traded at $16.1350. Approximately 336 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 45,225 shares. The stock had previously closed at $17.46.

Analyst Upgrades and Downgrades

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

Kelly Services Trading Down 2.1%

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market capitalization of $609.50 million, a PE ratio of -2.31 and a beta of 0.71. The stock’s 50 day simple moving average is $15.25 and its two-hundred day simple moving average is $13.02.

Kelly Services (NASDAQ:KELYB) last released its 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 analysts’ expectations 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 declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Monday, May 18th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, May 18th. Kelly Services’s dividend payout ratio is presently -3.95%.

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.