Kforce (NASDAQ:KFRC) Updates Q2 Earnings Guidance

Kforce (NASDAQ:KFRC) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.68-0.76 for the period, compared to the consensus EPS estimate of $0.76. The company issued revenue guidance of $352-360 million, compared to the consensus revenue estimate of $363.93 million. Kforce also updated its Q2 2024 guidance to 0.680-0.760 EPS.

Wall Street Analyst Weigh In

KFRC has been the subject of several analyst reports. Robert W. Baird raised their target price on shares of Kforce from $62.00 to $72.00 and gave the company an outperform rating in a research note on Tuesday, February 6th. Truist Financial increased their price target on shares of Kforce from $57.00 to $70.00 and gave the company a hold rating in a research note on Thursday, January 25th. Finally, StockNews.com lowered shares of Kforce from a buy rating to a hold rating in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $68.33.

Kforce Stock Performance

Kforce stock traded down $2.49 during mid-day trading on Tuesday, hitting $61.74. 46,263 shares of the company’s stock traded hands, compared to its average volume of 105,530. Kforce has a fifty-two week low of $50.89 and a fifty-two week high of $74.79. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 20.52 and a beta of 0.85. The firm has a 50 day simple moving average of $68.11 and a two-hundred day simple moving average of $66.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.37 and a quick ratio of 2.37.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. Kforce had a net margin of 3.99% and a return on equity of 38.24%. The business had revenue of $351.89 million for the quarter, compared to analyst estimates of $354.92 million. During the same quarter in the prior year, the business earned $0.82 EPS. Kforce’s quarterly revenue was down 13.3% on a year-over-year basis. On average, research analysts expect that Kforce will post 3.02 EPS for the current fiscal year.

Kforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Kforce’s previous quarterly dividend of $0.36. Kforce’s payout ratio is presently 48.56%.

Kforce Company Profile

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.