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

Key Points

• Short interest in Kelly Services fell sharply in June, dropping 48.3% to 711 shares as of June 30 from 1,375 shares two weeks earlier. The stock’s short-interest ratio is just 0.5 days, with essentially 0.0% of shares currently sold short.
• The company posted mixed quarterly results, reporting EPS of $0.03 versus the $0.06 consensus estimate while revenue came in at $1.04 billion, slightly above expectations. Kelly Services also showed a positive return on equity of 3.07% but a negative net margin of 6.44%.
• Analyst sentiment remains weak, with Weiss Ratings cutting the stock from “sell (d)” to “sell (d-)” and MarketBeat showing an average rating of “Sell.” The company also recently paid a quarterly dividend of $0.075 per share, implying a 1.3% annualized yield.

Kelly Services, Inc. (NASDAQ:KELYB - Get Free Report) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 711 shares, a decline of 48.3% from the June 15th total of 1,375 shares. Based on an average daily volume of 1,396 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Kelly Services Stock Performance

Shares of Kelly Services stock traded down $1.21 during trading hours on Wednesday, reaching $22.64. 1,297 shares of the stock traded hands, compared to its average volume of 1,493. Kelly Services has a one year low of $8.38 and a one year high of $125.00. The firm has a market capitalization of $785.10 million, a price-to-earnings ratio of -2.96 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 $19.12 and a 200 day moving average price of $15.85.

Kelly Services (NASDAQ:KELYB - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.03 earnings per share 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 the consensus estimate 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 given a $0.075 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.30 annualized dividend and a yield of 1.3%. Kelly Services's dividend payout ratio (DPR) 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.

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