Brokerages forecast that Kforce Inc. (NASDAQ:KFRC) will post $352.18 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Kforce’s earnings, with the highest sales estimate coming in at $353.10 million and the lowest estimate coming in at $351.18 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 earnings results on Tuesday, February 5th.
According to Zacks, analysts expect that Kforce will report full-year sales of $1.41 billion for the current financial year. For the next fiscal year, analysts forecast that the business will report sales of $1.49 billion, with estimates ranging from $1.47 billion to $1.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Kforce.
Kforce (NASDAQ:KFRC) last posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). Kforce had a return on equity of 36.45% and a net margin of 3.40%. The company had revenue of $355.45 million for the quarter, compared to analyst estimates of $356.89 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis.
KFRC has been the subject of several research reports. BidaskClub downgraded shares of Kforce from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. ValuEngine downgraded shares of Kforce from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Credit Suisse Group initiated coverage on shares of Kforce in a research note on Friday, August 10th. They set a “neutral” rating and a $38.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Kforce has an average rating of “Hold” and a consensus price target of $41.40.
Shares of NASDAQ:KFRC traded down $2.04 on Friday, hitting $29.83. 175,610 shares of the company were exchanged, compared to its average volume of 136,624. Kforce has a 1-year low of $23.80 and a 1-year high of $43.51. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $826.01 million, a P/E ratio of 19.00 and a beta of 1.74.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Friday, December 7th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.72 annualized dividend and a dividend yield of 2.41%. Kforce’s payout ratio is currently 45.86%.
In related news, Director Ralph Struzziero sold 9,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $38.55, for a total transaction of $346,950.00. Following the completion of the transaction, the director now directly owns 41,535 shares in the company, valued at $1,601,174.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard M. Cocchiaro sold 11,912 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $42.55, for a total transaction of $506,855.60. The disclosure for this sale can be found here. Insiders have sold 46,972 shares of company stock valued at $1,712,546 over the last quarter. Insiders own 12.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Kforce by 7.5% during the third quarter. Vanguard Group Inc. now owns 2,262,431 shares of the business services provider’s stock worth $85,067,000 after purchasing an additional 157,652 shares in the last quarter. Morgan Stanley increased its stake in shares of Kforce by 562.9% during the third quarter. Morgan Stanley now owns 410,861 shares of the business services provider’s stock worth $15,448,000 after purchasing an additional 348,886 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Kforce by 68.4% during the third quarter. AQR Capital Management LLC now owns 578,423 shares of the business services provider’s stock worth $21,749,000 after purchasing an additional 234,919 shares in the last quarter. IndexIQ Advisors LLC increased its stake in shares of Kforce by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 84,039 shares of the business services provider’s stock worth $3,160,000 after purchasing an additional 3,175 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of Kforce during the third quarter worth about $1,333,000. Institutional investors own 82.33% of the company’s stock.
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.
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