Zacks: Analysts Anticipate Kforce Inc. (KFRC) Will Announce Quarterly Sales of $345.37 Million
Wall Street brokerages expect that Kforce Inc. (NASDAQ:KFRC) will report sales of $345.37 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Kforce’s earnings, with estimates ranging from $345.03 million to $345.97 million. Kforce posted sales of $333.99 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The firm is scheduled to report its next quarterly earnings report on Tuesday, May 1st.
On average, analysts expect that Kforce will report full-year sales of $345.37 million for the current year, with estimates ranging from $1.40 billion to $1.42 billion. For the next fiscal year, analysts expect that the company will post sales of $1.48 billion per share, with estimates ranging from $1.45 billion to $1.49 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Kforce.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Tuesday, February 6th. The business services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. Kforce had a net margin of 2.45% and a return on equity of 29.84%. The company had revenue of $342.60 million during the quarter, compared to analysts’ expectations of $340.02 million. During the same quarter in the previous year, the company earned $0.36 EPS. Kforce’s revenue was up 5.1% on a year-over-year basis.
In related news, COO Kye L. Mitchell sold 15,907 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $24.65, for a total transaction of $392,107.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David L. Dunkel sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $26.50, for a total transaction of $39,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,794 shares of company stock valued at $2,116,292. Corporate insiders own 13.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Kforce by 1.7% in the second quarter. Vanguard Group Inc. now owns 2,067,198 shares of the business services provider’s stock valued at $40,517,000 after buying an additional 33,998 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Kforce by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,435,611 shares of the business services provider’s stock valued at $28,138,000 after buying an additional 60,783 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Kforce by 22.2% in the third quarter. Macquarie Group Ltd. now owns 1,387,703 shares of the business services provider’s stock valued at $28,032,000 after buying an additional 251,643 shares in the last quarter. Investment Counselors of Maryland LLC lifted its stake in Kforce by 6.5% in the third quarter. Investment Counselors of Maryland LLC now owns 1,070,029 shares of the business services provider’s stock valued at $21,615,000 after buying an additional 65,258 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its stake in Kforce by 4.4% in the third quarter. Deprince Race & Zollo Inc. now owns 747,427 shares of the business services provider’s stock valued at $15,098,000 after buying an additional 31,768 shares in the last quarter. 78.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kforce (NASDAQ KFRC) opened at $27.30 on Thursday. Kforce has a 1 year low of $16.75 and a 1 year high of $27.52. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.95 and a current ratio of 2.95. The company has a market cap of $700.06, a P/E ratio of 16.85 and a beta of 1.73.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, March 8th. Kforce’s dividend payout ratio is currently 36.64%.
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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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