Kforce (NASDAQ:KFRC) Announces Earnings Results, Hits Expectations

Kforce (NASDAQ:KFRC) issued its quarterly earnings data on Monday. The business services provider reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58, Briefing.com reports. The business had revenue of $351.89 million for the quarter, compared to analysts’ expectations of $354.92 million. Kforce had a return on equity of 38.24% and a net margin of 3.99%. The business’s revenue was down 13.3% on a year-over-year basis. During the same period last year, the business earned $0.82 EPS. Kforce updated its Q2 guidance to $0.68-0.76 EPS and its Q2 2024 guidance to 0.680-0.760 EPS.

Kforce Stock Performance

NASDAQ KFRC opened at $64.23 on Tuesday. The company has a market capitalization of $1.25 billion, a PE ratio of 20.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.37 and a current ratio of 2.37. Kforce has a 52-week low of $50.89 and a 52-week high of $74.79. The company has a 50-day simple moving average of $68.11 and a 200 day simple moving average of $66.48.

Kforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.38 dividend. This is an increase from Kforce’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Thursday, March 14th. Kforce’s payout ratio is 48.56%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KFRC. Truist Financial raised their price target on shares of Kforce from $57.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. StockNews.com lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Finally, Robert W. Baird boosted their target price on Kforce from $62.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.33.

About Kforce

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.