Kforce (NASDAQ:KFRC) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

Kforce Trading Up 4.7 %

Shares of NASDAQ:KFRC opened at $70.78 on Wednesday. The stock has a market capitalization of $1.38 billion, a PE ratio of 24.49 and a beta of 0.89. Kforce has a 1 year low of $53.75 and a 1 year high of $74.79. The firm has a fifty day moving average price of $62.92 and a 200 day moving average price of $65.81. 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 related news, insider Andrew G. Thomas sold 4,801 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total value of $294,925.43. Following the completion of the sale, the insider now directly owns 94,095 shares in the company, valued at $5,780,255.85. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 on Thursday, June 13th. The shares were sold at an average price of $62.02, for a total transaction 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew G. Thomas sold 4,801 shares of the business’s 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 transaction, the insider now directly owns 94,095 shares of the company’s stock, valued at approximately $5,780,255.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,439 shares of company stock worth $1,015,114. Corporate insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their price objective on shares of Kforce from $72.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Kforce has a consensus rating of “Hold” and a consensus target price 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.