Brokerages predict that Kforce Inc. (NASDAQ:KFRC) will announce sales of $352.18 million for the current quarter, according to Zacks. Three analysts have made estimates for Kforce’s earnings. The lowest sales estimate is $351.18 million and the highest is $353.10 million. Kforce posted sales of $342.59 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The company is expected to issue its next quarterly earnings report on Tuesday, February 5th.
On average, analysts expect that Kforce will report full year sales of $1.41 billion for the current financial year. For the next financial year, analysts expect that the company will post sales of $1.49 billion, with estimates ranging from $1.47 billion to $1.51 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Kforce.
Kforce (NASDAQ:KFRC) last issued its earnings results on Wednesday, October 31st. The business services provider reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). Kforce had a return on equity of 36.45% and a net margin of 3.40%. The business had revenue of $355.45 million for the quarter, compared to the consensus estimate of $356.89 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year.
Several brokerages have recently commented on KFRC. ValuEngine downgraded Kforce from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. BidaskClub upgraded Kforce from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Credit Suisse Group began coverage on Kforce in a research note on Friday, August 10th. They set a “neutral” rating and a $38.00 target price for the company. Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Saturday, August 4th. Finally, Robert W. Baird reissued a “buy” rating and set a $45.00 price target on shares of Kforce in a report on Thursday, August 2nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Kforce has an average rating of “Hold” and an average target price of $41.40.
Shares of NASDAQ KFRC opened at $32.66 on Wednesday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.49. Kforce has a 12 month low of $23.17 and a 12 month high of $43.51. The company has a market cap of $852.99 million, a PE ratio of 20.80 and a beta of 1.73.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.72 annualized dividend and a yield of 2.20%. Kforce’s payout ratio is currently 45.86%.
In related news, Director Richard M. Cocchiaro sold 5,373 shares of Kforce stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $42.51, for a total transaction of $228,406.23. Following the completion of the sale, the director now directly owns 406,539 shares of the company’s stock, valued at approximately $17,281,972.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David L. Dunkel sold 25,000 shares of Kforce stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $42.50, for a total value of $1,062,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,071 shares of company stock valued at $3,662,013. 12.50% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Kforce by 29.4% during the 2nd quarter. BlackRock Inc. now owns 2,070,717 shares of the business services provider’s stock worth $71,027,000 after purchasing an additional 471,012 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Kforce by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,461,301 shares of the business services provider’s stock valued at $50,123,000 after acquiring an additional 4,460 shares in the last quarter. Royce & Associates LP raised its holdings in Kforce by 32.4% in the 2nd quarter. Royce & Associates LP now owns 637,636 shares of the business services provider’s stock valued at $21,871,000 after acquiring an additional 156,117 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Kforce by 37.3% in the 3rd quarter. Acadian Asset Management LLC now owns 484,461 shares of the business services provider’s stock valued at $18,214,000 after acquiring an additional 131,485 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Kforce by 1.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 285,520 shares of the business services provider’s stock valued at $9,794,000 after acquiring an additional 3,491 shares in the last quarter. 79.34% of the stock is owned by institutional investors and hedge funds.
Kforce Company Profile
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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