FY2017 EPS Estimates for Kforce, Inc. Lowered by Analyst (KFRC)
Kforce, Inc. (NASDAQ:KFRC) – Equities researchers at SunTrust Banks reduced their FY2017 earnings estimates for Kforce in a research report issued on Tuesday. SunTrust Banks analyst T. Sommer now expects that the business services provider will earn $1.49 per share for the year, down from their previous estimate of $1.52. SunTrust Banks has a “Hold” rating and a $22.00 price target on the stock. SunTrust Banks also issued estimates for Kforce’s Q4 2017 earnings at $0.43 EPS, Q2 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.49 EPS and FY2018 earnings at $1.76 EPS.
Kforce (NASDAQ:KFRC) last posted its earnings results on Tuesday, October 31st. The business services provider reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $341.05 million for the quarter, compared to the consensus estimate of $340.67 million. Kforce had a return on equity of 29.67% and a net margin of 2.71%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. TRADEMARK VIOLATION NOTICE: “FY2017 EPS Estimates for Kforce, Inc. Lowered by Analyst (KFRC)” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/11/02/fy2017-eps-estimates-for-kforce-inc-lowered-by-analyst-kfrc.html.
KFRC has been the topic of a number of other reports. Deutsche Bank AG decreased their price target on shares of Kforce from $25.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, August 2nd. ValuEngine raised shares of Kforce from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. BidaskClub lowered shares of Kforce from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research lowered shares of Kforce from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Finally, TheStreet raised shares of Kforce from a “c+” rating to a “b” rating in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.20.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a $0.12 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.29%. Kforce’s dividend payout ratio (DPR) is 33.57%.
In related 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 transaction of $89,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.30% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its position in Kforce by 612.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 4,590 shares during the last quarter. FNY Managed Accounts LLC lifted its position in Kforce by 117.8% in the second quarter. FNY Managed Accounts LLC now owns 5,445 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 2,945 shares during the last quarter. Aperio Group LLC purchased a new stake in Kforce in the third quarter valued at $216,000. Dubuque Bank & Trust Co. lifted its position in Kforce by 22.7% in the second quarter. Dubuque Bank & Trust Co. now owns 11,665 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 2,158 shares during the last quarter. Finally, AXA purchased a new stake in Kforce in the second quarter valued at $261,000. Hedge funds and other institutional investors own 78.54% 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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