Avondale Partners Comments on Kforce Inc.’s Q3 2016 Earnings (KFRC)
Kforce Inc. (NASDAQ:KFRC) – Investment analysts at Avondale Partners issued their Q3 2016 earnings per share (EPS) estimates for Kforce in a research note issued on Thursday. Avondale Partners analyst R. Reece expects that the firm will post earnings of $0.42 per share for the quarter.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. Kforce had a net margin of 3.01% and a return on equity of 31.94%. The company had revenue of $335 million for the quarter, compared to analysts’ expectations of $334.91 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Kforce’s revenue for the quarter was down .7% on a year-over-year basis.
Several other analysts have also recently issued reports on KFRC. Zacks Investment Research upgraded shares of Kforce from a “sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Deutsche Bank AG began coverage on shares of Kforce in a research note on Wednesday, August 17th. They issued a “hold” rating and a $19.00 target price on the stock. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $21.00 target price on shares of Kforce in a research note on Wednesday, August 3rd.
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Shares of Kforce (NASDAQ:KFRC) opened at 20.01 on Monday. Kforce has a 52 week low of $14.87 and a 52 week high of $28.84. The company has a market cap of $524.14 million, a PE ratio of 13.59 and a beta of 1.56. The company has a 50 day moving average of $19.42 and a 200 day moving average of $18.68.
Institutional investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC raised its position in Kforce by 50.9% in the first quarter. TIAA CREF Investment Management LLC now owns 198,918 shares of the company’s stock valued at $3,895,000 after buying an additional 67,084 shares in the last quarter. Teachers Advisors Inc. raised its position in Kforce by 20.7% in the first quarter. Teachers Advisors Inc. now owns 309,316 shares of the company’s stock valued at $6,056,000 after buying an additional 53,016 shares in the last quarter. Prudential Financial Inc. raised its position in Kforce by 57.9% in the first quarter. Prudential Financial Inc. now owns 172,880 shares of the company’s stock valued at $3,385,000 after buying an additional 63,425 shares in the last quarter. BlackRock Group LTD raised its position in Kforce by 7.4% in the first quarter. BlackRock Group LTD now owns 45,597 shares of the company’s stock valued at $892,000 after buying an additional 3,141 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in Kforce during the first quarter valued at approximately $104,000. 80.63% of the stock is currently owned by institutional investors.
In related news, President Joseph J. Liberatore sold 75,000 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $18.19, for a total transaction of $1,364,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Kye L. Mitchell sold 3,732 shares of the stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $19.82, for a total transaction of $73,968.24. The disclosure for this sale can be found here. Insiders own 12.80% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Wednesday, September 7th. Kforce’s dividend payout ratio (DPR) is currently 32.88%.
Kforce Inc is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), which provides both temporary staffing and permanent placement services to its clients, focusing primarily on areas of information technology, such as systems/applications, e-commerce, technology infrastructure, network architecture and security; Finance and Accounting (FA), which is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others, and Government Solutions (GS), which is engaged in providing services and solutions to the Federal Government as both a prime contractor and a subcontractor in the fields of information technology, and finance and accounting.
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