Kforce (NASDAQ:KFRC) Releases Earnings Results, Misses Estimates By $0.01 EPS


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

KFRC stock traded up $4.11 on Tuesday, reaching $61.49. The company had a trading volume of 2,308 shares, compared to its average volume of 112,770. The company has a market cap of $1.36 billion, a P/E ratio of 25.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.65 and a current ratio of 2.65. The company’s fifty day moving average is $54.43 and its 200 day moving average is $46.24. Kforce has a 1 year low of $25.73 and a 1 year high of $57.51.

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 given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, June 10th. This represents a $0.92 annualized dividend and a dividend yield of 1.50%. Kforce’s dividend payout ratio is currently 39.15%.

In other Kforce news, Director Ralph Struzziero sold 3,850 shares of the stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $54.45, for a total transaction of $209,632.50. Also, CEO David L. Dunkel sold 50,000 shares of the firm’s stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $56.00, for a total value of $2,800,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,840 shares of company stock worth $9,493,145. 10.80% of the stock is owned by insiders.

A number of research analysts have recently issued reports on KFRC shares. Truist boosted their target price on Kforce from $48.00 to $55.00 in a report on Thursday, March 11th. Truist Securities upped their target price on shares of Kforce from $48.00 to $55.00 in a research report on Thursday, March 11th. Credit Suisse Group lifted their price target on shares of Kforce from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday. Zacks Investment Research cut Kforce from a “buy” rating to a “hold” rating in a report on Wednesday, April 14th. Finally, Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Monday, January 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Kforce currently has an average rating of “Buy” and a consensus target price 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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