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

Kelly Services, Inc. (NASDAQ:KELYA - Get Free Report) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 719,300 shares, a drop of 6.5% from the October 15th total of 769,000 shares. Currently, 2.3% of the company's stock are short sold. Based on an average daily volume of 200,300 shares, the short-interest ratio is presently 3.6 days.

Institutional Trading of Kelly Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Kelly Services during the 2nd quarter valued at $30,000. Innealta Capital LLC bought a new stake in Kelly Services during the second quarter worth about $39,000. nVerses Capital LLC bought a new stake in Kelly Services during the second quarter worth about $47,000. Meeder Asset Management Inc. acquired a new stake in Kelly Services during the second quarter worth about $51,000. Finally, SG Americas Securities LLC bought a new position in Kelly Services in the 1st quarter valued at about $125,000. Institutional investors and hedge funds own 76.34% of the company's stock.

Kelly Services Stock Performance

Shares of KELYA stock traded down $0.23 on Monday, reaching $14.16. The stock had a trading volume of 439,397 shares, compared to its average volume of 229,829. Kelly Services has a 12 month low of $14.16 and a 12 month high of $25.27. The firm has a market capitalization of $503.67 million, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.54 and a beta of 1.20. The firm's 50-day moving average is $19.95 and its two-hundred day moving average is $21.05. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kelly Services (NASDAQ:KELYA - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.07 billion. Kelly Services had a net margin of 0.97% and a return on equity of 6.93%. The business's quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. On average, research analysts expect that Kelly Services will post 2.07 EPS for the current fiscal year.

Kelly Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, November 20th. Kelly Services's dividend payout ratio is presently 26.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KELYA shares. Barrington Research decreased their price target on Kelly Services from $29.00 to $25.00 and set an "outperform" rating for the company in a research note on Monday. StockNews.com downgraded shares of Kelly Services from a "buy" rating to a "hold" rating in a report 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.