$0.23 Earnings Per Share Expected for Kforce Inc. (KFRC) This Quarter
Analysts expect that Kforce Inc. (NASDAQ:KFRC) will post $0.23 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have provided estimates for Kforce’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.22. Kforce posted earnings of $0.24 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 4.2%. The business is expected to issue its next quarterly earnings results before the market opens on Tuesday, May 2nd.
On average, analysts expect that Kforce will report full-year earnings of $1.59 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.67. For the next fiscal year, analysts forecast that the business will report earnings of $1.75 per share, with EPS estimates ranging from $1.55 to $1.85. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Kforce.
Kforce (NASDAQ:KFRC) last issued its earnings results on Tuesday, February 7th. The business services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. Kforce had a return on equity of 29.93% and a net margin of 2.48%. The company had revenue of $326 million for the quarter, compared to analyst estimates of $327.25 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Kforce’s revenue for the quarter was down .5% on a year-over-year basis.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Kforce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 11th. Avondale Partners upgraded Kforce from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research note on Wednesday, February 8th. Griffin Securities cut Kforce from a “buy” rating to a “hold” rating in a research note on Wednesday, February 8th. Credit Suisse Group AG cut Kforce from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research note on Friday, February 24th. They noted that the move was a valuation call. Finally, William Blair restated an “outperform” rating on shares of Kforce in a research note on Friday, February 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.50.
In other news, Director Gordon Tunstall sold 5,000 shares of the business’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $25.50, for a total value of $127,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Kye L. Mitchell sold 2,550 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $23.87, for a total value of $60,868.50. The disclosure for this sale can be found here. Insiders sold 36,307 shares of company stock valued at $892,640 in the last 90 days. Company insiders own 12.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new stake in Kforce during the third quarter worth approximately $148,000. BlackRock Inc. boosted its stake in Kforce by 25.1% in the third quarter. BlackRock Inc. now owns 11,391 shares of the business services provider’s stock worth $233,000 after buying an additional 2,282 shares during the period. Numeric Investors LLC boosted its stake in Kforce by 24.3% in the fourth quarter. Numeric Investors LLC now owns 12,800 shares of the business services provider’s stock worth $296,000 after buying an additional 2,500 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Kforce by 40.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,758 shares of the business services provider’s stock worth $318,000 after buying an additional 3,977 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in Kforce during the fourth quarter worth approximately $356,000. Institutional investors own 82.39% of the company’s stock.
Shares of Kforce (NASDAQ:KFRC) traded down 1.09% during trading on Friday, hitting $22.65. The stock had a trading volume of 113,358 shares. The firm has a 50 day moving average price of $23.51 and a 200-day moving average price of $22.19. The stock has a market capitalization of $568.29 million, a price-to-earnings ratio of 18.12 and a beta of 1.52. Kforce has a 52 week low of $15.78 and a 52 week high of $26.95.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, March 8th. Kforce’s dividend payout ratio is currently 38.40%.
Kforce Company Profile
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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