Kforce (NASDAQ:KFRC) Updates Q3 Earnings Guidance

Kforce (NASDAQ:KFRC) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.65-0.73 for the period, compared to the consensus EPS estimate of $0.79. The company issued revenue guidance of $347-355 million, compared to the consensus revenue estimate of $363.59 million. Kforce also updated its Q3 2024 guidance to 0.650-0.730 EPS.

Kforce Price Performance

Shares of KFRC stock traded down $1.03 on Wednesday, reaching $69.19. The company’s stock had a trading volume of 13,529 shares, compared to its average volume of 97,955. The company has a market capitalization of $1.35 billion, a P/E 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 stock’s 50 day simple moving average is $62.92 and its 200-day simple moving average is $65.81. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.25.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Monday, July 29th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02. The firm had revenue of $356.32 million during the quarter, compared to analyst estimates 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 company posted $0.95 earnings per share. As a group, equities analysts predict that Kforce will post 2.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Kforce news, Director Mark F. Furlong sold 5,000 shares of Kforce stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total transaction of $308,500.00. Following the completion of the transaction, the director now owns 26,297 shares in the company, valued at $1,622,524.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Kforce news, Director Mark F. Furlong sold 5,000 shares of Kforce 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 completion of the transaction, the director now directly owns 26,297 shares of the company’s stock, valued at $1,622,524.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew G. Thomas sold 4,801 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 94,095 shares of the company’s stock, valued at $5,780,255.85. The disclosure for this sale can be found here. Insiders have sold 16,439 shares of company stock worth $1,015,114 in the last 90 days. Insiders own 5.50% of the company’s stock.

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.