Kforce Inc. (NASDAQ:KFRC) – Equities researchers at Northcoast Research boosted their FY2018 earnings per share estimates for Kforce in a research note issued on Wednesday. Northcoast Research analyst J. Healy now forecasts that the business services provider will post earnings of $2.20 per share for the year, up from their prior forecast of $1.79. Northcoast Research currently has a “Buy” rating and a $33.00 target price on the stock.
Several other analysts have also weighed in on the company. Robert W. Baird upped their target price on Kforce from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday. Zacks Investment Research lowered Kforce from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine raised Kforce from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, BidaskClub lowered Kforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Kforce currently has a consensus rating of “Buy” and an average target price of $26.50.
Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Tuesday, February 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The firm had revenue of $342.60 million during the quarter, compared to analysts’ expectations of $340.02 million. Kforce had a return on equity of 29.84% and a net margin of 2.45%. Kforce’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, March 8th. Kforce’s payout ratio is 36.64%.
In other news, CEO David L. Dunkel sold 6,271 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $27.00, for a total value of $169,317.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Joseph J. Liberatore sold 21,380 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $27.15, for a total value of $580,467.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,437 shares of company stock worth $1,786,277. 13.30% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Kforce by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,067,198 shares of the business services provider’s stock valued at $40,517,000 after buying an additional 33,998 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Kforce by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,435,611 shares of the business services provider’s stock worth $28,138,000 after acquiring an additional 60,783 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Kforce by 22.2% in the 3rd quarter. Macquarie Group Ltd. now owns 1,387,703 shares of the business services provider’s stock worth $28,032,000 after acquiring an additional 251,643 shares in the last quarter. Investment Counselors of Maryland LLC grew its position in shares of Kforce by 6.5% in the 3rd quarter. Investment Counselors of Maryland LLC now owns 1,070,029 shares of the business services provider’s stock worth $21,615,000 after acquiring an additional 65,258 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its position in shares of Kforce by 4.4% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 747,427 shares of the business services provider’s stock worth $15,098,000 after acquiring an additional 31,768 shares in the last quarter. Institutional investors and hedge funds own 78.70% of the company’s stock.
Kforce Company Profile
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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