Kforce (NASDAQ:KFRC) Announces Quarterly Earnings Results


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Kforce (NASDAQ:KFRC) released its earnings results on Sunday. The business services provider reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01), MarketWatch Earnings reports. The firm had revenue of $363.20 million for the quarter, compared to the consensus estimate of $359.24 million. Kforce had a return on equity of 32.56% and a net margin of 3.77%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS.

Shares of Kforce stock traded up $4.03 during trading on Tuesday, reaching $61.41. 2,176 shares of the company were exchanged, compared to its average volume of 112,770. Kforce has a twelve month low of $25.73 and a twelve month high of $57.51. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 25.32 and a beta of 1.49. The business has a 50-day moving average price of $54.43 and a 200-day moving average price of $46.24.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Friday, June 11th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, June 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.50%. Kforce’s dividend payout ratio (DPR) is presently 39.15%.

In other Kforce news, CEO David L. Dunkel sold 50,000 shares of the business’s stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $56.00, for a total value of $2,800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ralph Struzziero sold 3,850 shares of the business’s stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $54.45, for a total value of $209,632.50. Over the last three months, insiders sold 176,840 shares of company stock valued at $9,493,145. Insiders own 10.80% of the company’s stock.

A number of research firms have recently weighed in on KFRC. Robert W. Baird boosted their target price on Kforce from $53.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Monday, January 4th. Truist Securities boosted their target price on Kforce from $48.00 to $55.00 in a research report on Thursday, March 11th. Zacks Investment Research downgraded Kforce from a “buy” rating to a “hold” rating in a research report on Wednesday, April 14th. Finally, Truist lifted their price objective on Kforce from $48.00 to $55.00 in a research note on Thursday, March 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $53.14.

Kforce Company Profile

Kforce, Inc engages in the provision of professional and technical staffing services and solutions. It operates through the Technology and Finance and Accounting (FA) segments. The Technology segment offers services on areas of information technology such as systems and applications architecture and development, data management, business and artificial intelligence, machine learning, and network architecture and security.

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Earnings History for Kforce (NASDAQ:KFRC)

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