Zacks: Analysts Anticipate Kforce Inc. (KFRC) Will Post Quarterly Sales of $345.02 Million
Wall Street analysts predict that Kforce Inc. (NASDAQ:KFRC) will post $345.02 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Kforce’s earnings. The lowest sales estimate is $344.33 million and the highest is $346.23 million. Kforce posted sales of $335.05 million during the same quarter last year, which suggests a positive year over year growth rate of 3%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that Kforce will report full-year sales of $345.02 million for the current financial year, with estimates ranging from $1.35 billion to $1.37 billion. For the next financial year, analysts forecast that the business will report sales of $1.41 billion per share, with estimates ranging from $1.38 billion to $1.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Kforce.
Several equities analysts have recently issued reports on KFRC shares. Zacks Investment Research downgraded shares of Kforce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 11th. William Blair reaffirmed an “outperform” rating on shares of Kforce in a research note on Friday, February 24th. Griffin Securities cut shares of Kforce from a “buy” rating to a “hold” rating in a research report on Wednesday, February 8th. Credit Suisse Group AG cut shares of Kforce from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research report on Friday, February 24th. They noted that the move was a valuation call. Finally, Avondale Partners upgraded shares of Kforce from a “market perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research report on Wednesday, February 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $24.50.
Shares of Kforce (NASDAQ:KFRC) opened at 19.00 on Friday. Kforce has a 12-month low of $15.78 and a 12-month high of $26.95. The firm’s 50-day moving average is $22.13 and its 200-day moving average is $22.38. The firm has a market cap of $479.43 million, a price-to-earnings ratio of 14.11 and a beta of 1.52.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Wednesday, June 7th. Kforce’s dividend payout ratio (DPR) is presently 38.40%.
In other news, insider Michael R. Blackman sold 16,257 shares of the stock in a transaction on Monday, February 13th. The shares were sold at an average price of $24.46, for a total transaction of $397,646.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David L. Dunkel sold 2,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $21.00, for a total transaction of $42,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,145 shares of company stock valued at $1,117,410. 12.80% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Perkins Investment Management LLC boosted its stake in Kforce by 78.9% in the third quarter. Perkins Investment Management LLC now owns 947,188 shares of the business services provider’s stock valued at $19,408,000 after buying an additional 417,766 shares during the period. Tributary Capital Management LLC purchased a new stake in Kforce during the third quarter valued at $8,467,000. Deprince Race & Zollo Inc. boosted its stake in Kforce by 26.9% in the first quarter. Deprince Race & Zollo Inc. now owns 558,525 shares of the business services provider’s stock valued at $13,265,000 after buying an additional 118,278 shares during the period. Teachers Advisors LLC boosted its stake in Kforce by 31.3% in the first quarter. Teachers Advisors LLC now owns 415,407 shares of the business services provider’s stock valued at $9,866,000 after buying an additional 98,945 shares during the period. Finally, LSV Asset Management boosted its stake in Kforce by 72.0% in the first quarter. LSV Asset Management now owns 198,533 shares of the business services provider’s stock valued at $4,715,000 after buying an additional 83,083 shares during the period. Institutional investors own 82.39% of the company’s stock.
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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