Equities analysts expect Kforce, Inc. (NASDAQ:KFRC) to announce $341.03 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Kforce’s earnings, with estimates ranging from $339.99 million to $342.36 million. Kforce posted sales of $336.46 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.4%. The business is scheduled to issue its next earnings results after the market closes on Tuesday, October 31st.
On average, analysts expect that Kforce will report full year sales of $341.03 million for the current financial year, with estimates ranging from $1.34 billion to $1.36 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.40 billion per share, with estimates ranging from $1.38 billion to $1.43 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Kforce.
Kforce (NASDAQ:KFRC) last announced its earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). Kforce had a return on equity of 29.67% and a net margin of 2.64%. The business had revenue of $340.31 million for the quarter, compared to analyst estimates of $345.24 million. During the same period last year, the firm earned $0.41 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.
A number of brokerages have recently weighed in on KFRC. Deutsche Bank AG dropped their price target on Kforce from $25.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, August 2nd. BidaskClub cut Kforce from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. TheStreet upgraded Kforce from a “c+” rating to a “b” rating in a research report on Monday, October 2nd. SunTrust Banks, Inc. cut Kforce from a “buy” rating to a “hold” rating and dropped their price target for the company from $23.00 to $22.00 in a research report on Wednesday, October 11th. Finally, ValuEngine cut Kforce from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Kforce presently has a consensus rating of “Hold” and an average target price of $23.20.
In related news, COO Kye L. Mitchell sold 5,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $17.99, for a total transaction of $89,950.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.30% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Kforce by 612.0% during the second quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 4,590 shares during the last quarter. FNY Managed Accounts LLC boosted its stake in shares of Kforce by 117.8% during the second quarter. FNY Managed Accounts LLC now owns 5,445 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 2,945 shares during the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of Kforce by 22.7% during the second quarter. Dubuque Bank & Trust Co. now owns 11,665 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 2,158 shares during the last quarter. AXA acquired a new stake in shares of Kforce during the second quarter valued at $261,000. Finally, KBC Group NV acquired a new stake in shares of Kforce during the second quarter valued at $266,000. 78.42% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Kforce (KFRC) traded down 0.385% during midday trading on Thursday, reaching $19.425. 70,858 shares of the company’s stock traded hands. The stock’s 50 day moving average is $19.01 and its 200-day moving average is $19.46. The company has a market capitalization of $491.26 million, a PE ratio of 14.158 and a beta of 1.58. Kforce has a 52 week low of $15.95 and a 52 week high of $26.95.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Thursday, September 7th. Kforce’s payout ratio is currently 35.04%.
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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