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

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 paid a dividend of 0.38 per share by the business services provider on Friday, December 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, December 6th.

Kforce has a payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kforce to earn $2.90 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 52.4%.

Kforce Stock Down 1.0 %

Shares of NASDAQ KFRC opened at $57.79 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 20.14 and a beta of 0.87. Kforce has a 12-month low of $52.96 and a 12-month high of $74.79. The firm’s 50-day simple moving average is $60.24 and its 200 day simple moving average is $62.33.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.70%. The business had revenue of $353.30 million for the quarter, compared to analysts’ expectations of $352.19 million. During the same period in the prior year, the firm earned $0.90 earnings per share. Kforce’s revenue was down 5.3% compared to the same quarter last year. On average, research analysts expect that Kforce will post 2.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KFRC has been the subject of a number of recent analyst reports. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, October 15th. StockNews.com cut Kforce from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Truist Financial reduced their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.