Kforce Reaches New 52-Week High After Strong Earnings (KFRC)
Kforce (NASDAQ:KFRC) shares hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings, Stock Ratings Network.com reports. The stock traded as high as $22.95 and last traded at $22.47, with a volume of 360,835 shares. The stock had previously closed at $21.03.
The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.02. The company had revenue of $305.31 million for the quarter, compared to the consensus estimate of $300.75 million. During the same quarter last year, the company posted $0.09 earnings per share. Kforce’s revenue was up 14.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Wednesday, June 11th.
KFRC has been the subject of a number of recent research reports. Analysts at Macquarie raised their price target on shares of Kforce from $24.00 to $25.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Kforce in a research note on Wednesday. They now have a $22.00 price target on the stock, up previously from $21.00. Finally, analysts at TheStreet downgraded shares of Kforce from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.91.
In other Kforce news, Chairman Richard Cocchiaro sold 19,720 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $21.75, for a total value of $428,910.00. Following the sale, the chairman now directly owns 1,167,091 shares in the company, valued at approximately $25,384,229. The sale was disclosed in a legal filing with the SEC, which is available at this link.
The stock has a 50-day moving average of $21.24 and a 200-day moving average of $20.14. The company has a market cap of $754.4 million and a price-to-earnings ratio of 65.72.
Kforce Inc (NASDAQ:KFRC) is a provider of professional and technical specialty staffing services and solutions.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.