Kelly Services, Inc. (NASDAQ:KELYB) Short Interest Down 43.3% in August

Key Points

• Short interest fell 43.3% in August to 548 shares, representing 0.0% of shares outstanding and a days-to-cover ratio of 1.3.
• Kelly Services exceeded quarterly expectations, reporting adjusted earnings of $0.37 per share versus the $0.18 consensus estimate and revenue of $1.04 billion.
• The company paid a quarterly dividend of $0.075 per share, while analyst sentiment remained negative: Weiss Ratings downgraded the stock and the consensus rating was “Sell.”

Kelly Services, Inc. (NASDAQ:KELYB - Get Free Report) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 548 shares, a drop of 43.3% from the August 15th total of 967 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 437 shares, the days-to-cover ratio is currently 1.3 days.

Kelly Services Stock Performance

Shares of KELYB stock opened at $22.82 on Tuesday. The stock has a market cap of $792.58 million, a P/E ratio of -2.92 and a beta of 0.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 1.50. The company has a fifty day moving average price of $22.88 and a two-hundred day moving average price of $18.83. Kelly Services has a one year low of $8.38 and a one year high of $125.00.

Kelly Services (NASDAQ:KELYB - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. Kelly Services had a negative net margin of 6.73% and a positive return on equity of 2.69%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion.

Kelly Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, August 19th. Kelly Services's dividend payout ratio (DPR) is presently -3.84%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Kelly Services from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Kelly Services has a consensus rating of "Sell".

About Kelly Services

Kelly Services, Inc is a workforce solutions and staffing company that connects employers with workers across a range of industries and skill levels. The company provides temporary, contract, temp-to-hire and direct-hire staffing, along with workforce management and outsourcing services.

Its business serves several specialized markets, including education, science and engineering, professional and industrial staffing, and office and administrative support. Kelly also offers recruiting, talent management, payroll and compliance support, and other services designed to help organizations manage contingent and permanent workforces.

Founded in Detroit in 1946 by William Russell Kelly, the company is recognized as one of the pioneers of the temporary staffing industry.

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