Kforce (NASDAQ:KFRC) Issues Q3 2024 Earnings Guidance

Kforce (NASDAQ:KFRC) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.650-0.730 for the period, compared to the consensus EPS estimate of 0.790. The company issued revenue guidance of $347.0 million-$355.0 million, compared to the consensus revenue estimate of $363.6 million. Kforce also updated its Q3 guidance to $0.65-0.73 EPS.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their target price on Kforce from $72.00 to $71.00 and set an outperform rating on the stock in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $68.00.

Kforce Stock Down 1.0 %

Shares of KFRC stock traded down $0.68 during midday trading on Wednesday, reaching $69.54. 17,914 shares of the stock were exchanged, compared to its average volume of 97,985. The firm has a market cap of $1.36 billion, a PE ratio of 24.49 and a beta of 0.89. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $62.92 and its two-hundred day moving average is $65.81. Kforce has a 1 year low of $53.75 and a 1 year high of $74.79.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Monday, July 29th. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.02. The company had revenue of $356.32 million for the quarter, compared to analysts’ expectations of $356.20 million. Kforce had a return on equity of 34.84% and a net margin of 3.56%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share. On average, equities research analysts predict that Kforce will post 2.82 EPS for the current year.

Insider Activity at Kforce

In other Kforce news, Director Mark F. Furlong sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $61.70, for a total value of $308,500.00. Following the sale, the director now owns 26,297 shares in the company, valued at $1,622,524.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Kforce news, CEO Joseph J. Liberatore sold 6,638 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $62.02, for a total value of $411,688.76. Following the transaction, the chief executive officer now owns 213,689 shares of the company’s stock, valued at $13,252,991.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark F. Furlong sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $61.70, for a total value of $308,500.00. Following the sale, the director now owns 26,297 shares of the company’s stock, valued at $1,622,524.90. The disclosure for this sale can be found here. Insiders sold a total of 16,439 shares of company stock valued at $1,015,114 in the last three months. Company insiders own 5.50% of the company’s stock.

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.