Kforce (NASDAQ:KFRC) Updates Q3 Earnings Guidance

Kforce (NASDAQ:KFRC) updated its third quarter earnings guidance on Monday. 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.

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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $68.00.

Kforce Price Performance

NASDAQ:KFRC traded down $0.81 during mid-day trading on Monday, reaching $67.60. 77,706 shares of the stock were exchanged, compared to its average volume of 97,720. The business has a fifty day moving average price of $62.67 and a 200 day moving average price of $65.74. The firm has a market capitalization of $1.32 billion, a PE ratio of 23.62 and a beta of 0.89. Kforce has a 1-year low of $53.75 and a 1-year 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.

Kforce (NASDAQ:KFRC) last released its earnings results on Monday, April 29th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.58. The firm had revenue of $351.89 million for the quarter, compared to analyst estimates of $354.92 million. Kforce had a return on equity of 36.39% and a net margin of 3.78%. Kforce’s revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share. Research analysts expect that Kforce will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Joseph J. Liberatore sold 6,638 shares of Kforce 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 approximately $13,252,991.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Joseph J. Liberatore sold 6,638 shares of Kforce 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 approximately $13,252,991.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew G. Thomas sold 4,801 shares of Kforce stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $61.43, for a total value of $294,925.43. Following the completion of the transaction, the insider now directly owns 94,095 shares in the company, valued at approximately $5,780,255.85. The disclosure for this sale can be found here. Insiders have sold a total of 16,439 shares of company stock valued at $1,015,114 over 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.