Kforce (NASDAQ:KFRC) Releases Quarterly Earnings Results

Kforce (NASDAQ:KFRC) announced its earnings results on Monday. The business services provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02, Briefing.com reports. The firm had revenue of $356.32 million for the quarter, compared to the consensus estimate of $356.20 million. Kforce had a return on equity of 34.84% and a net margin of 3.56%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 EPS. Kforce updated its Q3 guidance to $0.65-0.73 EPS and its Q3 2024 guidance to 0.650-0.730 EPS.

Kforce Price Performance

Shares of KFRC stock traded down $0.68 during trading hours on Wednesday, reaching $69.54. The stock had a trading volume of 17,914 shares, compared to its average volume of 97,985. The stock’s fifty day simple moving average is $62.92 and its 200 day simple moving average is $65.81. The firm has a market capitalization of $1.36 billion, a PE ratio of 24.49 and a beta of 0.89. Kforce has a 12 month low of $53.75 and a 12 month high of $74.79. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.25.

Insider Buying and Selling

In other news, CEO Joseph J. Liberatore sold 6,638 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were 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 legal filing with the SEC, which is available at the SEC website. In other Kforce news, CEO Joseph J. Liberatore sold 6,638 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $62.02, for a total value of $411,688.76. Following the completion of the transaction, the chief executive officer now owns 213,689 shares of the company’s stock, valued at approximately $13,252,991.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Andrew G. Thomas sold 4,801 shares of Kforce stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $61.43, for a total transaction of $294,925.43. Following the sale, the insider now directly owns 94,095 shares of the company’s stock, valued at $5,780,255.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,439 shares of company stock valued at $1,015,114. Company insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered 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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Kforce presently has an average rating of “Hold” and an average price target of $68.00.

Kforce Company Profile

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.