Equities analysts expect that Kforce Inc. (NASDAQ:KFRC) will report $352.18 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Kforce’s earnings, with estimates ranging from $351.18 million to $353.10 million. Kforce reported sales of $342.59 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The firm is expected to report its next quarterly earnings results on Tuesday, February 5th.
On average, analysts expect that Kforce will report full year sales of $1.41 billion for the current year. For the next fiscal year, analysts expect that the company will post sales of $1.49 billion, with estimates ranging from $1.47 billion to $1.51 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover Kforce.
Kforce (NASDAQ:KFRC) last announced its earnings results on Wednesday, October 31st. The business services provider reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.02). The company had revenue of $355.45 million during the quarter, compared to analyst estimates of $356.89 million. Kforce had a return on equity of 36.45% and a net margin of 3.40%. Kforce’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share.
KFRC has been the subject of a number of research analyst reports. BidaskClub lowered shares of Kforce from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 12th. Zacks Investment Research raised shares of Kforce from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Saturday, August 4th. Robert W. Baird reaffirmed a “buy” rating and issued a $45.00 target price on shares of Kforce in a research note on Thursday, August 2nd. ValuEngine lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, SunTrust Banks upped their target price on shares of Kforce to $44.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $41.40.
In other Kforce news, Director Gordon Tunstall sold 6,000 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $30.40, for a total transaction of $182,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David M. Kelly sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $32.66, for a total transaction of $65,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 46,972 shares of company stock worth $1,712,546 over the last three months. Insiders own 13.30% of the company’s stock.
A number of large investors have recently modified their holdings of KFRC. Meeder Asset Management Inc. lifted its position in Kforce by 207.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,567 shares of the business services provider’s stock worth $191,000 after buying an additional 3,759 shares in the last quarter. Zebra Capital Management LLC bought a new stake in Kforce during the 2nd quarter worth about $217,000. United Services Automobile Association bought a new stake in Kforce during the 3rd quarter worth about $223,000. Baird Financial Group Inc. bought a new stake in Kforce during the 2nd quarter worth about $226,000. Finally, Caxton Associates LP bought a new stake in Kforce during the 3rd quarter worth about $252,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ KFRC opened at $31.11 on Friday. The firm has a market capitalization of $803.33 million, a P/E ratio of 19.82 and a beta of 1.73. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.66 and a quick ratio of 2.66. Kforce has a 1-year low of $23.80 and a 1-year high of $43.51.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.72 annualized dividend and a yield of 2.31%. Kforce’s dividend payout ratio (DPR) is presently 45.86%.
Kforce Company Profile
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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