Kforce (NASDAQ:KFRC) Issues Quarterly Earnings Results


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

Shares of KFRC traded up $3.81 during mid-day trading on Tuesday, reaching $61.19. 2,235 shares of the stock traded hands, compared to its average volume of 112,770. The firm has a fifty day moving average price of $54.43 and a 200 day moving average price of $46.24. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 25.32 and a beta of 1.49. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.59. Kforce has a 1 year low of $25.73 and a 1 year high of $57.51.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Friday, June 11th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, June 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.50%. Kforce’s dividend payout ratio (DPR) is currently 39.15%.

Several equities research analysts have weighed in on KFRC shares. Robert W. Baird upped their target price on Kforce from $53.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday. Zacks Investment Research cut Kforce from a “buy” rating to a “hold” rating in a research note on Wednesday, April 14th. Credit Suisse Group increased their price target on Kforce from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday. Truist increased their price target on Kforce from $48.00 to $55.00 in a research note on Thursday, March 11th. Finally, Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Monday, January 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Kforce currently has a consensus rating of “Buy” and an average target price of $53.14.

In other news, Director Ralph Struzziero sold 3,850 shares of Kforce stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $54.45, for a total transaction of $209,632.50. Also, CEO David L. Dunkel sold 50,000 shares of Kforce 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. Insiders have sold a total of 176,840 shares of company stock valued at $9,493,145 over the last 90 days. Company 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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