Kforce (NASDAQ:KFRC) Posts Earnings Results

Kforce (NASDAQ:KFRC) announced its earnings results on Monday. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02, Briefing.com reports. Kforce had a return on equity of 34.84% and a net margin of 3.56%. The company had revenue of $356.32 million for the quarter, compared to analyst estimates of $356.20 million. During the same period in the prior year, the company posted $0.95 EPS. Kforce’s quarterly 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 Stock Down 1.1 %

Shares of NASDAQ KFRC traded down $0.75 during mid-day trading on Wednesday, reaching $69.47. 121,019 shares of the company traded hands, compared to its average volume of 98,691. The company’s fifty day moving average is $62.92 and its two-hundred day moving average is $65.81. Kforce has a fifty-two week low of $53.75 and a fifty-two week high of $74.79. The stock has a market cap of $1.35 billion, a PE ratio of 24.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.32 and a current ratio of 2.32.

Kforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, September 13th. Kforce’s payout ratio is currently 52.60%.

Analysts Set New Price Targets

Separately, Robert W. Baird dropped their price target on Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $68.00.

Insiders Place Their Bets

In related news, insider Andrew G. Thomas sold 4,801 shares of the firm’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 completion of the sale, the insider now directly owns 94,095 shares of the company’s stock, valued at approximately $5,780,255.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Andrew G. Thomas sold 4,801 shares of the company’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 completion of the transaction, the insider now directly owns 94,095 shares of the company’s stock, valued at $5,780,255.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $411,688.76. Following the transaction, the chief executive officer now directly owns 213,689 shares of the company’s stock, valued at $13,252,991.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,439 shares of company stock worth $1,015,114. 5.50% of the stock is currently owned by company insiders.

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.