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

Kelly Services, Inc. (NASDAQ:KELYA) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 719,300 shares, a decrease of 6.5% from the October 15th total of 769,000 shares. Based on an average trading volume of 200,300 shares, the short-interest ratio is presently 3.6 days. Approximately 2.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Kelly Services

A number of hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in Kelly Services in the 2nd quarter valued at approximately $30,000. Innealta Capital LLC purchased a new position in shares of Kelly Services during the second quarter worth $39,000. nVerses Capital LLC acquired a new stake in shares of Kelly Services in the second quarter valued at $47,000. Meeder Asset Management Inc. acquired a new position in Kelly Services during the 2nd quarter worth about $51,000. Finally, SG Americas Securities LLC purchased a new position in Kelly Services during the 1st quarter valued at about $125,000. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Kelly Services Price Performance

Kelly Services stock opened at $14.39 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $19.95 and a 200 day moving average price of $21.05. Kelly Services has a 12-month low of $14.36 and a 12-month high of $25.27. The stock has a market cap of $511.85 million, a P/E ratio of 12.51, a PEG ratio of 0.54 and a beta of 1.20.

Kelly Services (NASDAQ:KELYA) last announced its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Kelly Services had a return on equity of 6.93% and a net margin of 0.97%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business earned $0.50 EPS. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. Sell-side analysts anticipate that Kelly Services will post 2.07 earnings per share for the current year.

Kelly Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services’s dividend payout ratio (DPR) is presently 26.09%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barrington Research restated an “outperform” rating and issued a $29.00 price target on shares of Kelly Services in a research report on Friday, September 27th. StockNews.com lowered Kelly Services from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.

About Kelly Services

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.