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

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

Kforce Trading Down 1.1 %

Shares of NASDAQ:KFRC traded down $0.75 during mid-day trading on Wednesday, hitting $69.47. The company had a trading volume of 106,907 shares, compared to its average volume of 98,595. The company has a market capitalization of $1.35 billion, a PE ratio of 24.36 and a beta of 0.89. 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 debt-to-equity ratio of 0.25, a current ratio of 2.32 and a quick ratio of 2.32. Kforce has a one year low of $53.75 and a one year high of $74.79.

Insider Activity at Kforce

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

Analyst Ratings Changes

Separately, Robert W. Baird lowered their target price 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 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 MarketBeat.com, Kforce has a consensus rating of “Hold” and an average target price of $68.00.

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.