Q3 2016 Earnings Estimate for Kforce Inc. (KFRC) Issued By Avondale Partners
Kforce Inc. (NASDAQ:KFRC) – Equities researchers at Avondale Partners issued their Q3 2016 earnings estimates for Kforce in a research report issued to clients and investors on Thursday. Avondale Partners analyst R. Reece forecasts that the brokerage will post earnings of $0.42 per share for the quarter.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. The firm earned $335 million during the quarter, compared to the consensus estimate of $334.91 million. Kforce had a return on equity of 31.94% and a net margin of 3.01%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share.
KFRC has been the topic of several other reports. Zacks Investment Research raised Kforce from a “sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Deutsche Bank AG assumed coverage on Kforce in a research report on Wednesday, August 17th. They set a “hold” rating and a $19.00 price objective on the stock. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $21.00 price objective on shares of Kforce in a research report on Wednesday, August 3rd.
Shares of Kforce (NASDAQ:KFRC) opened at 19.83 on Monday. Kforce has a 52 week low of $14.87 and a 52 week high of $28.84. The stock has a 50 day moving average price of $19.49 and a 200 day moving average price of $18.71. The stock has a market capitalization of $519.43 million, a P/E ratio of 13.47 and a beta of 1.56.
Several hedge funds have recently modified their holdings of KFRC. Acrospire Investment Management LLC bought a new stake in shares of Kforce during the first quarter worth approximately $104,000. First Mercantile Trust Co. boosted its stake in shares of Kforce by 6.8% in the second quarter. First Mercantile Trust Co. now owns 6,760 shares of the company’s stock worth $114,000 after buying an additional 430 shares in the last quarter. Rational Advisors LLC bought a new stake in shares of Kforce during the second quarter worth approximately $118,000. O Shaughnessy Asset Management LLC boosted its stake in shares of Kforce by 620.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 7,488 shares of the company’s stock worth $126,000 after buying an additional 6,448 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Kforce by 506.5% in the second quarter. BlackRock Inc. now owns 9,109 shares of the company’s stock worth $153,000 after buying an additional 7,607 shares in the last quarter. 80.63% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Gordon Tunstall sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $18.69, for a total value of $93,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kye L. Mitchell sold 3,732 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $19.82, for a total value of $73,968.24. The disclosure for this sale can be found here. 12.80% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a $0.12 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.42%. Kforce’s dividend payout ratio is currently 32.88%.
Kforce Inc is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), which provides both temporary staffing and permanent placement services to its clients, focusing primarily on areas of information technology, such as systems/applications, e-commerce, technology infrastructure, network architecture and security; Finance and Accounting (FA), which is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others, and Government Solutions (GS), which is engaged in providing services and solutions to the Federal Government as both a prime contractor and a subcontractor in the fields of information technology, and finance and accounting.
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