Kforce (NASDAQ:KFRC) Releases Earnings Results, Misses Estimates By $0.01 EPS


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Kforce (NASDAQ:KFRC) announced its quarterly earnings results on Sunday. The business services provider reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01), MarketWatch Earnings reports. The company had revenue of $363.20 million during the quarter, compared to the consensus estimate of $359.24 million. Kforce had a net margin of 3.77% and a return on equity of 32.56%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share.

KFRC traded up $4.40 during midday trading on Tuesday, hitting $61.78. 266,155 shares of the company traded hands, compared to its average volume of 114,599. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 25.53 and a beta of 1.49. Kforce has a 52-week low of $25.73 and a 52-week high of $62.00. The business has a 50 day simple moving average of $54.49 and a two-hundred day simple moving average of $46.33.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Investors of record on Friday, June 11th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Thursday, June 10th. Kforce’s dividend payout ratio (DPR) is presently 39.15%.

KFRC has been the topic of a number of research reports. Sidoti upgraded shares of Kforce from a “neutral” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Monday, January 4th. Credit Suisse Group boosted their price objective on shares of Kforce from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday. Robert W. Baird boosted their price objective on shares of Kforce from $53.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday. Truist Securities upped their price target on shares of Kforce from $48.00 to $55.00 in a research report on Thursday, March 11th. Finally, Truist upped their price target on shares of Kforce from $48.00 to $55.00 in a research report on Thursday, March 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Kforce presently has a consensus rating of “Buy” and an average price target of $53.14.

In other Kforce news, Director N John Simmons sold 2,000 shares of the business’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $52.20, for a total value of $104,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David L. Dunkel sold 50,000 shares of the company’s stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $56.00, for a total transaction of $2,800,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 176,840 shares of company stock worth $9,493,145. Insiders own 10.80% of the company’s stock.

Kforce Company Profile

Kforce, Inc engages in the provision of professional and technical staffing services and solutions. It operates through the Technology and Finance and Accounting (FA) segments. The Technology segment offers services on areas of information technology such as systems and applications architecture and development, data management, business and artificial intelligence, machine learning, and network architecture and security.

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Earnings History for Kforce (NASDAQ:KFRC)

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