Kforce (NASDAQ:KFRC) Releases Q2 Earnings Guidance

Kforce (NASDAQ:KFRC) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $0.68-0.76 for the period, compared to the consensus EPS estimate of $0.76. The company issued revenue guidance of $352-360 million, compared to the consensus revenue estimate of $363.93 million. Kforce also updated its Q2 2024 guidance to 0.680-0.760 EPS.

Wall Street Analyst Weigh In

Several analysts have recently commented on KFRC shares. Truist Financial increased their price objective on Kforce from $57.00 to $70.00 and gave the company a hold rating in a report on Thursday, January 25th. Robert W. Baird raised their target price on Kforce from $62.00 to $72.00 and gave the stock an outperform rating in a research note on Tuesday, February 6th. Finally, StockNews.com lowered Kforce from a buy rating to a hold rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Kforce has a consensus rating of Hold and a consensus target price of $68.33.

Kforce Price Performance

KFRC traded up $0.10 during trading on Monday, reaching $64.23. The company’s stock had a trading volume of 70,403 shares, compared to its average volume of 106,374. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 20.66 and a beta of 0.85. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $68.19 and a two-hundred day simple moving average of $66.45. Kforce has a 1 year low of $50.89 and a 1 year high of $74.79.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, February 5th. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $363.45 million for the quarter, compared to analyst estimates of $363.29 million. Kforce had a net margin of 3.99% and a return on equity of 38.24%. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 EPS. As a group, analysts anticipate that Kforce will post 3.02 EPS for the current year.

Kforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Kforce’s previous quarterly dividend of $0.36. Kforce’s payout ratio is presently 48.56%.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.