Wall Street brokerages forecast that Kforce Inc. (NASDAQ:KFRC) will announce sales of $352.18 million for the current quarter, according to Zacks. Three analysts have provided estimates for Kforce’s earnings. The lowest sales estimate is $351.18 million and the highest is $353.10 million. Kforce reported sales of $342.59 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 5th.
On average, analysts expect that Kforce will report full year sales of $1.41 billion for the current financial year. For the next fiscal year, analysts anticipate that the company will report sales of $1.49 billion, with estimates ranging from $1.47 billion to $1.51 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Kforce.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Wednesday, October 31st. The business services provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $355.45 million during the quarter, compared to analyst estimates of $356.89 million. Kforce had a net margin of 3.40% and a return on equity of 36.45%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS.
A number of analysts recently weighed in on KFRC shares. BidaskClub lowered shares of Kforce from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Zacks Investment Research raised shares of 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. SunTrust Banks raised their price target on shares of Kforce to $44.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. Credit Suisse Group started coverage on shares of Kforce in a report on Friday, August 10th. They issued a “neutral” rating and a $38.00 price target for the company. Finally, ValuEngine lowered shares of Kforce from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Kforce presently has an average rating of “Hold” and a consensus price target of $41.40.
Shares of Kforce stock traded down $0.90 during midday trading on Wednesday, reaching $31.32. The company had a trading volume of 138,483 shares, compared to its average volume of 185,082. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market cap of $863.54 million, a P/E ratio of 19.95 and a beta of 1.73. Kforce has a 1-year low of $23.80 and a 1-year high of $43.51.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $0.72 dividend on an annualized basis and a yield of 2.30%. Kforce’s payout ratio is presently 45.86%.
In other Kforce news, CFO David M. Kelly sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $32.66, for a total value of $65,320.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David L. Dunkel sold 25,000 shares of the firm’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 transaction of $1,062,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,071 shares of company stock worth $3,727,333. Insiders own 13.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Kforce by 29.4% in the second quarter. BlackRock Inc. now owns 2,070,717 shares of the business services provider’s stock valued at $71,027,000 after acquiring an additional 471,012 shares during the last quarter. American Century Companies Inc. bought a new position in Kforce in the second quarter valued at approximately $4,098,000. James Investment Research Inc. bought a new position in Kforce in the third quarter valued at approximately $2,122,000. Bessemer Group Inc. boosted its stake in Kforce by 253.0% in the second quarter. Bessemer Group Inc. now owns 22,200 shares of the business services provider’s stock valued at $761,000 after acquiring an additional 15,911 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Kforce in the second quarter valued at approximately $580,000. 79.34% of the stock is currently owned by hedge funds and other institutional investors.
Kforce Company Profile
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.
Featured Story: Liquidity
Get a free copy of the Zacks research report on Kforce (KFRC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kforce and related companies with MarketBeat.com's FREE daily email newsletter.