Kforce (NASDAQ:KFRC) Issues Earnings Results

Kforce (NASDAQ:KFRC) announced its quarterly earnings results on Monday. The business services provider reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58, Briefing.com reports. The company had revenue of $351.89 million during the quarter, compared to analysts’ expectations of $354.92 million. Kforce had a return on equity of 38.24% and a net margin of 3.99%. Kforce’s revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 EPS. Kforce updated its Q2 guidance to $0.68-0.76 EPS and its Q2 2024 guidance to 0.680-0.760 EPS.

Kforce Trading Up 0.2 %

Shares of NASDAQ:KFRC opened at $64.23 on Tuesday. Kforce has a 12-month low of $50.89 and a 12-month high of $74.79. The business has a 50 day moving average of $68.11 and a 200-day moving average of $66.48. 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 stock has a market cap of $1.25 billion, a PE ratio of 20.52 and a beta of 0.85.

Kforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.38 dividend. This is a boost from Kforce’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 2.37%. The ex-dividend date was Thursday, March 14th. Kforce’s dividend payout ratio is currently 48.56%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. StockNews.com cut Kforce from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, Robert W. Baird boosted their price target on Kforce from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Kforce has a consensus rating of “Hold” and a consensus target price of $68.33.

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.