Kforce Inc. (NASDAQ:KFRC) Plans Quarterly Dividend of $0.38

Kforce Inc. (NASDAQ:KFRC) declared a quarterly dividend on Monday, April 29th, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.38 per share by the business services provider on Friday, June 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, June 14th.

Kforce has increased its dividend payment by an average of 21.6% annually over the last three years and has raised its dividend every year for the last 5 years. Kforce has a dividend payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kforce to earn $3.56 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 42.7%.

Kforce Stock Up 0.6 %

NASDAQ KFRC traded up $0.34 during trading on Wednesday, reaching $62.10. 1,980 shares of the company’s stock were exchanged, compared to its average volume of 106,120. Kforce has a fifty-two week low of $50.89 and a fifty-two week high of $74.79. The firm has a market capitalization of $1.21 billion, a PE ratio of 21.37 and a beta of 0.85. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.26. The company’s fifty day simple moving average is $67.98 and its 200-day simple moving average is $66.50.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. Kforce had a return on equity of 35.83% and a net margin of 3.78%. The firm had revenue of $351.89 million during the quarter, compared to analyst estimates of $354.92 million. During the same period last year, the company posted $0.82 EPS. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. Sell-side analysts predict that Kforce will post 3.02 EPS for the current year.

Analysts Set New Price Targets

KFRC has been the subject of a number of research reports. Truist Financial raised their price objective on Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. StockNews.com downgraded Kforce from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, Robert W. Baird cut their price target on Kforce from $72.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Kforce currently has an average rating of “Hold” and a consensus price target of $68.00.

Kforce Company Profile

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.