Kelly Services, Inc. (NASDAQ:KELYB) Short Interest Update

Key Points

• Short interest fell 42.9% to 837 shares as of July 31, representing 0.0% of outstanding shares and a days-to-cover ratio of 0.7.
• Kelly Services shares declined 9.1% to $21.75 during Monday trading, while the company’s latest quarterly results beat expectations with earnings of $0.37 per share and revenue of $1.04 billion.
• The company declared a quarterly dividend of $0.075 per share, or $0.30 annualized, but analyst sentiment remains negative, with a consensus “Sell” rating.

Kelly Services, Inc. (NASDAQ:KELYB - Get Free Report) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 837 shares, a drop of 42.9% from the July 15th total of 1,467 shares. Based on an average trading volume of 1,172 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.0% of the company's shares are short sold.

Kelly Services Stock Down 9.1%

Shares of NASDAQ:KELYB traded down $2.19 during midday trading on Monday, hitting $21.75. 3,691 shares of the company's stock traded hands, compared to its average volume of 1,035. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $755.38 million, a PE ratio of -2.78 and a beta of 0.82. The firm's fifty day moving average price is $21.40 and its two-hundred day moving average price is $17.87. Kelly Services has a twelve month low of $8.38 and a twelve month high of $125.00.

Kelly Services (NASDAQ:KELYB - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.01 billion.

Kelly Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.075 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.30 annualized dividend and a dividend yield of 1.4%. Kelly Services's dividend payout ratio is presently -3.84%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Kelly Services in a research note on Friday, August 7th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of "Sell".

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.

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