Wall Street brokerages expect Kforce Inc. (NASDAQ:KFRC) to post sales of $361.53 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Kforce’s earnings. The lowest sales estimate is $359.00 million and the highest is $364.00 million. Kforce posted sales of $335.21 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.9%. The firm is expected to report its next earnings results after the market closes on Monday, May 3rd.
On average, analysts expect that Kforce will report full year sales of $1.41 billion for the current financial year, with estimates ranging from $1.40 billion to $1.41 billion. For the next financial year, analysts forecast that the firm will report sales of $1.47 billion, with estimates ranging from $1.46 billion to $1.48 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Kforce.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Sunday, February 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.09. The business had revenue of $354.00 million for the quarter, compared to the consensus estimate of $345.00 million. Kforce had a return on equity of 32.56% and a net margin of 3.77%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 earnings per share.
Several equities analysts recently commented on the company. Credit Suisse Group upped their target price on Kforce from $37.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, February 9th. Truist upped their target price on Kforce from $48.00 to $55.00 in a research note on Thursday, March 11th. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, January 4th. Truist Securities upped their target price on Kforce from $48.00 to $55.00 in a research note on Thursday, March 11th. Finally, Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, February 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $46.86.
In other news, SVP Jeffrey B. Hackman sold 1,900 shares of the company’s stock in a transaction dated Friday, January 22nd. The stock was sold at an average price of $45.12, for a total value of $85,728.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David L. Dunkel sold 15,000 shares of the company’s stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $54.72, for a total value of $820,800.00. Insiders have sold 103,740 shares of company stock valued at $5,391,140 over the last 90 days. 10.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Kforce by 5.3% in the fourth quarter. BlackRock Inc. now owns 2,139,511 shares of the business services provider’s stock worth $90,052,000 after buying an additional 108,234 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Kforce by 18.8% in the fourth quarter. Nuveen Asset Management LLC now owns 414,545 shares of the business services provider’s stock worth $17,448,000 after buying an additional 65,669 shares during the period. FIL Ltd purchased a new stake in shares of Kforce in the fourth quarter worth about $17,093,000. Royce & Associates LP boosted its position in shares of Kforce by 4.4% in the fourth quarter. Royce & Associates LP now owns 251,956 shares of the business services provider’s stock worth $10,605,000 after buying an additional 10,706 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Kforce by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 248,476 shares of the business services provider’s stock worth $10,459,000 after buying an additional 3,036 shares during the period. 77.34% of the stock is owned by institutional investors.
Kforce stock traded up $0.43 during trading on Friday, hitting $55.35. The company’s stock had a trading volume of 76,735 shares, compared to its average volume of 118,429. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 22.87 and a beta of 1.49. The stock’s fifty day moving average is $52.57 and its 200 day moving average is $43.64. Kforce has a 1-year low of $25.22 and a 1-year high of $55.51. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.65 and a current ratio of 2.65.
The company also recently declared a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, March 12th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, March 11th. This is a positive change from Kforce’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a yield of 1.66%. Kforce’s dividend payout ratio is currently 39.15%.
Kforce Company Profile
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech) and Finance and Accounting (FA) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, business and artificial intelligence, machine learning, network architecture, security, enterprise data, and project management.
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