Equities analysts expect Kforce Inc. (NASDAQ:KFRC) to post sales of $353.93 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Kforce’s earnings, with estimates ranging from $353.26 million to $354.61 million. Kforce posted sales of $346.29 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The firm is expected to announce its next quarterly earnings report before the market opens on Wednesday, May 1st.
On average, analysts expect that Kforce will report full year sales of $1.48 billion for the current year, with estimates ranging from $1.48 billion to $1.49 billion. For the next financial year, analysts anticipate that the company will report sales of $1.56 billion, with estimates ranging from $1.56 billion to $1.57 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Kforce.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Wednesday, February 6th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.08. The firm had revenue of $358.00 million during the quarter, compared to analysts’ expectations of $352.21 million. Kforce had a net margin of 4.09% and a return on equity of 37.58%. Kforce’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Kforce from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th. BidaskClub upgraded shares of Kforce from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, ValuEngine cut shares of Kforce from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $40.20.
In other Kforce news, COO Kye L. Mitchell sold 17,513 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.30, for a total transaction of $635,721.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director N John Simmons sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $35.97, for a total transaction of $89,925.00. The disclosure for this sale can be found here. Insiders sold 120,921 shares of company stock valued at $4,067,046 over the last quarter. 11.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in KFRC. BlackRock Inc. boosted its holdings in Kforce by 30.1% during the third quarter. BlackRock Inc. now owns 2,693,340 shares of the business services provider’s stock valued at $101,271,000 after acquiring an additional 622,623 shares during the period. Morgan Stanley boosted its holdings in Kforce by 562.9% during the third quarter. Morgan Stanley now owns 410,861 shares of the business services provider’s stock valued at $15,448,000 after acquiring an additional 348,886 shares during the period. LSV Asset Management boosted its holdings in Kforce by 93.1% during the fourth quarter. LSV Asset Management now owns 640,139 shares of the business services provider’s stock valued at $19,793,000 after acquiring an additional 308,606 shares during the period. AQR Capital Management LLC boosted its holdings in Kforce by 68.4% during the third quarter. AQR Capital Management LLC now owns 578,423 shares of the business services provider’s stock valued at $21,749,000 after acquiring an additional 234,919 shares during the period. Finally, Vanguard Group Inc boosted its holdings in Kforce by 7.5% during the third quarter. Vanguard Group Inc now owns 2,262,431 shares of the business services provider’s stock valued at $85,067,000 after acquiring an additional 157,652 shares during the period. Institutional investors own 82.58% of the company’s stock.
NASDAQ:KFRC traded down $0.32 during trading hours on Wednesday, reaching $37.03. The company’s stock had a trading volume of 78,526 shares, compared to its average volume of 109,277. The stock has a market capitalization of $960.00 million, a PE ratio of 16.10 and a beta of 1.33. Kforce has a one year low of $25.60 and a one year high of $43.51. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43.
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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