Kforce (NASDAQ:KFRC) Updates Q3 2022 Earnings Guidance

Kforce (NASDAQ:KFRCGet Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.03-$1.11 for the period, compared to the consensus earnings per share estimate of $1.15. The company issued revenue guidance of $430.00 million-$438.00 million, compared to the consensus revenue estimate of $444.88 million.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird cut their price target on shares of Kforce from $80.00 to $70.00 and set an outperform rating on the stock in a report on Friday. StockNews.com lowered shares of Kforce from a strong-buy rating to a buy rating in a research note on Wednesday. Finally, Truist Financial dropped their price objective on shares of Kforce from $80.00 to $65.00 in a research note on Friday, July 15th.

Kforce Stock Down 0.7 %

Kforce stock traded down $0.38 during trading hours on Friday, hitting $57.95. The company had a trading volume of 139,904 shares, compared to its average volume of 114,771. The firm’s fifty day moving average is $62.60 and its 200-day moving average is $68.17. Kforce has a fifty-two week low of $55.94 and a fifty-two week high of $81.47. The firm has a market capitalization of $1.24 billion, a P/E ratio of 13.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.21 and a quick ratio of 2.21.

Kforce (NASDAQ:KFRCGet Rating) last announced its quarterly earnings results on Monday, August 1st. The business services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.18 by $0.12. Kforce had a net margin of 5.21% and a return on equity of 45.18%. The company had revenue of $436.50 million for the quarter, compared to analyst estimates of $440.44 million. During the same quarter in the prior year, the business posted $1.00 EPS. Kforce’s quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts forecast that Kforce will post 4.16 earnings per share for the current year.

Kforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 2.07%. Kforce’s dividend payout ratio (DPR) is 28.78%.

Insider Transactions at Kforce

In other news, Director N John Simmons sold 3,500 shares of the stock in a transaction on Friday, May 20th. The shares were sold at an average price of $65.25, for a total transaction of $228,375.00. Following the transaction, the director now owns 14,421 shares in the company, valued at approximately $940,970.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Kforce

Several large investors have recently modified their holdings of KFRC. Graham Capital Management L.P. bought a new stake in Kforce in the 1st quarter valued at $318,000. Jane Street Group LLC boosted its holdings in Kforce by 30.5% in the 1st quarter. Jane Street Group LLC now owns 7,181 shares of the business services provider’s stock valued at $531,000 after purchasing an additional 1,679 shares during the period. US Bancorp DE boosted its holdings in Kforce by 4.8% in the 1st quarter. US Bancorp DE now owns 8,023 shares of the business services provider’s stock valued at $593,000 after purchasing an additional 367 shares during the period. MetLife Investment Management LLC boosted its holdings in Kforce by 54.3% in the 1st quarter. MetLife Investment Management LLC now owns 11,075 shares of the business services provider’s stock valued at $819,000 after purchasing an additional 3,897 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Kforce by 14.2% in the 1st quarter. Royal Bank of Canada now owns 14,809 shares of the business services provider’s stock valued at $1,096,000 after purchasing an additional 1,844 shares during the period. 87.40% of the stock is owned by institutional investors.

Kforce Company Profile

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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.

See Also

Earnings History and Estimates for Kforce (NASDAQ:KFRC)

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