Kforce Inc. (KFRC) Expected to Post Earnings of $0.66 Per Share

Brokerages expect Kforce Inc. (NASDAQ:KFRC) to announce $0.66 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kforce’s earnings, with estimates ranging from $0.65 to $0.67. Kforce reported earnings of $0.65 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The business is expected to report its next earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Kforce will report full-year earnings of $2.38 per share for the current financial year, with EPS estimates ranging from $2.37 to $2.38. For the next fiscal year, analysts forecast that the firm will post earnings of $2.84 per share, with EPS estimates ranging from $2.80 to $2.87. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Kforce.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.02). The company had revenue of $326.70 million for the quarter, compared to analyst estimates of $329.80 million. Kforce had a return on equity of 35.26% and a net margin of 5.41%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS.

A number of equities analysts have weighed in on the company. BidaskClub raised Kforce from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research downgraded Kforce from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Kforce has an average rating of “Hold” and an average price target of $42.00.

In related news, Director Gordon Tunstall sold 3,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $34.98, for a total value of $104,940.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David M. Kelly sold 10,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $35.80, for a total value of $358,000.00. The disclosure for this sale can be found here. Insiders sold 28,000 shares of company stock worth $999,490 in the last 90 days. Company insiders own 11.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in shares of Kforce by 12.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,654 shares of the business services provider’s stock valued at $113,000 after buying an additional 396 shares during the period. Geode Capital Management LLC grew its stake in Kforce by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 436,134 shares of the business services provider’s stock worth $13,485,000 after purchasing an additional 29,569 shares in the last quarter. Citigroup Inc. grew its stake in Kforce by 3.7% during the 4th quarter. Citigroup Inc. now owns 15,701 shares of the business services provider’s stock worth $485,000 after purchasing an additional 557 shares in the last quarter. Tributary Capital Management LLC grew its stake in Kforce by 13.2% during the 1st quarter. Tributary Capital Management LLC now owns 528,362 shares of the business services provider’s stock worth $18,556,000 after purchasing an additional 61,473 shares in the last quarter. Finally, LSV Asset Management grew its stake in Kforce by 93.1% during the 4th quarter. LSV Asset Management now owns 640,139 shares of the business services provider’s stock worth $19,793,000 after purchasing an additional 308,606 shares in the last quarter. Hedge funds and other institutional investors own 82.72% of the company’s stock.

NASDAQ KFRC traded down $0.78 on Thursday, reaching $34.71. 6,182 shares of the company were exchanged, compared to its average volume of 124,873. The firm has a market capitalization of $908.78 million, a P/E ratio of 15.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.43 and a current ratio of 2.43. Kforce has a fifty-two week low of $27.95 and a fifty-two week high of $43.51.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.18 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.72 dividend on an annualized basis and a yield of 2.07%. Kforce’s dividend payout ratio is currently 31.30%.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.

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Earnings History and Estimates for Kforce (NASDAQ:KFRC)

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