$341.03 Million in Sales Expected for Kforce, Inc. (KFRC) This Quarter
Wall Street brokerages predict that Kforce, Inc. (NASDAQ:KFRC) will report sales of $341.03 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Kforce’s earnings, with the lowest sales estimate coming in at $339.99 million and the highest estimate coming in at $342.36 million. Kforce reported sales of $336.46 million in the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, October 31st.
On average, analysts expect that Kforce will report full-year sales of $341.03 million for the current fiscal year, with estimates ranging from $1.34 billion to $1.36 billion. For the next financial year, analysts expect that the business will report sales of $1.40 billion per share, with estimates ranging from $1.38 billion to $1.43 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Kforce.
Kforce (NASDAQ:KFRC) last released its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Kforce had a return on equity of 29.67% and a net margin of 2.64%. The company had revenue of $340.31 million during the quarter, compared to analysts’ expectations of $345.24 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year.
A number of research analysts have weighed in on the stock. SunTrust Banks, Inc. lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet raised shares of Kforce from a “c+” rating to a “b” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Kforce from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Robert W. Baird reaffirmed a “buy” rating and issued a $20.00 price target on shares of Kforce in a research note on Tuesday, September 12th. Finally, ValuEngine lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.50.
In other news, COO Kye L. Mitchell sold 5,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $17.99, for a total value of $89,950.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 13.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Kforce by 1.7% in the second quarter. Vanguard Group Inc. now owns 2,067,198 shares of the business services provider’s stock worth $40,517,000 after purchasing an additional 33,998 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kforce by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,435,611 shares of the business services provider’s stock worth $28,138,000 after purchasing an additional 60,783 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Kforce by 16.9% in the second quarter. Macquarie Group Ltd. now owns 1,136,060 shares of the business services provider’s stock worth $22,267,000 after purchasing an additional 164,268 shares in the last quarter. Investment Counselors of Maryland LLC lifted its position in shares of Kforce by 27.8% in the second quarter. Investment Counselors of Maryland LLC now owns 1,004,771 shares of the business services provider’s stock worth $19,694,000 after purchasing an additional 218,650 shares in the last quarter. Finally, Tributary Capital Management LLC lifted its position in shares of Kforce by 25.2% in the second quarter. Tributary Capital Management LLC now owns 777,037 shares of the business services provider’s stock worth $15,230,000 after purchasing an additional 156,200 shares in the last quarter. 78.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kforce (NASDAQ:KFRC) opened at 19.45 on Thursday. The firm has a 50-day moving average of $18.86 and a 200-day moving average of $19.54. The stock has a market cap of $491.89 million, a P/E ratio of 14.18 and a beta of 1.59. Kforce has a 52-week low of $15.95 and a 52-week high of $26.95.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, September 7th. Kforce’s payout ratio is currently 35.04%.
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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