Kforce (NASDAQ:KFRC) Announces Quarterly Earnings Results

Kforce (NASDAQ:KFRC) released its earnings results on Monday. The business services provider reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58, Briefing.com reports. The firm had revenue of $351.89 million for the quarter, compared to analysts’ expectations of $354.92 million. Kforce had a net margin of 3.99% and a return on equity of 38.24%. Kforce’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. Kforce updated its Q2 guidance to $0.68-0.76 EPS and its Q2 2024 guidance to 0.680-0.760 EPS.

Kforce Stock Performance

Shares of KFRC opened at $64.23 on Tuesday. The firm’s 50 day moving average is $68.11 and its 200-day moving average is $66.48. The stock has a market capitalization of $1.25 billion, a P/E ratio of 20.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.37 and a quick ratio of 2.37. Kforce has a 12-month low of $50.89 and a 12-month high of $74.79.

Kforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.38 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.37%. This is a boost from Kforce’s previous quarterly dividend of $0.36. Kforce’s payout ratio is currently 48.56%.

Wall Street Analyst Weigh In

Several research firms have commented on KFRC. Truist Financial raised their target price on shares of Kforce from $57.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. StockNews.com cut shares of Kforce from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, Robert W. Baird raised their target price on shares of Kforce from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $68.33.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.