Kforce Inc. (NASDAQ:KFRC) Announces Quarterly Dividend of $0.38

Kforce Inc. (NASDAQ:KFRC) announced a quarterly dividend on Wednesday, October 30th, Wall Street Journal reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.38 per share by the business services provider on Friday, December 20th. This represents a $1.52 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, December 6th.

Kforce has a dividend payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kforce to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 48.6%.

Kforce Stock Performance

Shares of NASDAQ:KFRC opened at $58.81 on Thursday. Kforce has a twelve month low of $52.96 and a twelve month high of $74.79. The firm has a market cap of $1.14 billion, a PE ratio of 21.86 and a beta of 0.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.33 and a current ratio of 2.33. The business has a fifty day moving average of $60.36 and a 200-day moving average of $62.36.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. Kforce had a return on equity of 34.89% and a net margin of 3.56%. The firm had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $352.19 million. During the same period in the previous year, the business posted $0.90 EPS. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that Kforce will post 2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

KFRC has been the topic of several analyst reports. Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Tuesday, October 15th. StockNews.com raised shares of Kforce from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Truist Financial lowered their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Kforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.75.

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.