Kforce Inc. (NASDAQ:KFRC) – SunTrust Banks dropped their Q4 2018 EPS estimates for shares of Kforce in a report released on Wednesday, October 31st. SunTrust Banks analyst T. Sommer now forecasts that the business services provider will post earnings per share of $0.57 for the quarter, down from their previous forecast of $0.59. SunTrust Banks has a “Hold” rating and a $44.00 price objective on the stock. SunTrust Banks also issued estimates for Kforce’s Q1 2019 earnings at $0.41 EPS, Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.73 EPS, FY2019 earnings at $2.50 EPS, Q1 2020 earnings at $0.49 EPS, Q2 2020 earnings at $0.79 EPS, Q3 2020 earnings at $0.77 EPS and FY2020 earnings at $2.85 EPS.
Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Wednesday, October 31st. The business services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The firm had revenue of $355.45 million during the quarter, compared to analysts’ expectations of $356.89 million. Kforce had a net margin of 3.40% and a return on equity of 38.03%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS.
KFRC has been the subject of a number of other research reports. BidaskClub lowered Kforce from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 12th. Robert W. Baird reiterated a “buy” rating and issued a $45.00 price target on shares of Kforce in a report on Thursday, August 2nd. Credit Suisse Group began coverage on Kforce in a report on Friday, August 10th. They issued a “neutral” rating and a $38.00 price target for the company. ValuEngine lowered Kforce from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Zacks Investment Research upgraded Kforce from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Saturday, August 4th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $41.40.
Shares of NASDAQ KFRC opened at $32.65 on Friday. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $852.98 million, a P/E ratio of 20.80 and a beta of 1.73. Kforce has a 52-week low of $23.00 and a 52-week high of $43.51.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Thursday, December 6th. Kforce’s dividend payout ratio (DPR) is 45.86%.
In related news, CEO David L. Dunkel sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $42.50, for a total value of $1,062,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Allred sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $42.95, for a total transaction of $42,950.00. The disclosure for this sale can be found here. Insiders sold 84,801 shares of company stock valued at $3,539,837 in the last three months. 13.30% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in Kforce by 15.9% in the second quarter. Victory Capital Management Inc. now owns 10,968 shares of the business services provider’s stock worth $376,000 after buying an additional 1,504 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Kforce by 7.9% in the third quarter. State Board of Administration of Florida Retirement System now owns 32,685 shares of the business services provider’s stock worth $1,229,000 after buying an additional 2,399 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Kforce by 19.1% in the third quarter. Russell Investments Group Ltd. now owns 17,144 shares of the business services provider’s stock worth $645,000 after buying an additional 2,749 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Kforce by 1.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 285,520 shares of the business services provider’s stock worth $9,794,000 after purchasing an additional 3,491 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Kforce by 16.5% during the second quarter. First Trust Advisors LP now owns 26,363 shares of the business services provider’s stock worth $904,000 after purchasing an additional 3,737 shares in the last quarter. 79.18% of the stock is owned by institutional investors.
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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