Kforce Inc. (NASDAQ:KFRC) Expected to Announce Earnings of $1.19 Per Share

Equities research analysts predict that Kforce Inc. (NASDAQ:KFRCGet Rating) will report earnings per share of $1.19 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Kforce’s earnings, with the highest EPS estimate coming in at $1.19 and the lowest estimate coming in at $1.18. Kforce posted earnings of $1.00 per share during the same quarter last year, which would indicate a positive year over year growth rate of 19%. The business is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Kforce will report full-year earnings of $4.39 per share for the current financial year, with EPS estimates ranging from $4.37 to $4.41. For the next year, analysts forecast that the firm will post earnings of $4.83 per share, with EPS estimates ranging from $4.79 to $4.87. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Kforce.

Kforce (NASDAQ:KFRCGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The business services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.17. Kforce had a net margin of 4.96% and a return on equity of 42.52%. The company had revenue of $416.97 million during the quarter, compared to analyst estimates of $408.02 million. During the same period in the prior year, the firm earned $0.62 earnings per share.

KFRC has been the topic of a number of research reports. Truist Financial upped their target price on Kforce from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, February 8th. Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Thursday, May 5th. Finally, StockNews.com initiated coverage on Kforce in a report on Thursday, March 31st. They issued a “buy” rating on the stock.

KFRC stock traded down $1.79 during mid-day trading on Tuesday, reaching $63.91. 125,303 shares of the stock traded hands, compared to its average volume of 103,907. The company has a market cap of $1.37 billion, a P/E ratio of 16.51 and a beta of 1.06. Kforce has a 52-week low of $55.94 and a 52-week high of $81.47. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.50. The stock’s fifty day moving average is $72.21 and its 200-day moving average is $72.72.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, June 10th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.20 dividend on an annualized basis and a yield of 1.88%. Kforce’s dividend payout ratio is currently 31.01%.

In other Kforce news, Director N John Simmons sold 3,500 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was 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 $940,970.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David M. Kelly sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $75.44, for a total value of $377,200.00. The disclosure for this sale can be found here. Insiders sold 8,917 shares of company stock worth $634,765 in the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP lifted its position in Kforce by 175.8% in the third quarter. Two Sigma Investments LP now owns 56,874 shares of the business services provider’s stock worth $3,392,000 after purchasing an additional 36,250 shares during the period. Janney Montgomery Scott LLC lifted its position in Kforce by 4.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 17,958 shares of the business services provider’s stock worth $1,351,000 after purchasing an additional 722 shares during the period. Wellington Management Group LLP lifted its position in Kforce by 1.2% in the third quarter. Wellington Management Group LLP now owns 113,855 shares of the business services provider’s stock worth $6,791,000 after purchasing an additional 1,298 shares during the period. Phocas Financial Corp. lifted its position in Kforce by 18.2% in the third quarter. Phocas Financial Corp. now owns 138,900 shares of the business services provider’s stock worth $8,284,000 after purchasing an additional 21,358 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Kforce by 11.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 36,916 shares of the business services provider’s stock valued at $2,777,000 after acquiring an additional 3,821 shares during the period. 87.40% of the stock is owned by hedge funds and other institutional investors.

About Kforce (Get Rating)

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.

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