Kforce (NASDAQ:KFRC) Releases Q2 2024 Earnings Guidance

Kforce (NASDAQ:KFRC) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.680-0.760 for the period, compared to the consensus estimate of 0.760. The company issued revenue guidance of $352.0 million-$360.0 million, compared to the consensus revenue estimate of $363.9 million. Kforce also updated its Q2 guidance to $0.68-0.76 EPS.

Kforce Stock Down 4.3 %

KFRC traded down $2.73 during trading on Tuesday, hitting $61.50. 60,141 shares of the company’s stock traded hands, compared to its average volume of 105,742. Kforce has a 12-month low of $50.89 and a 12-month high of $74.79. The company’s 50 day simple moving average is $68.11 and its two-hundred day simple moving average is $66.48. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 20.52 and a beta of 0.85.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The company had revenue of $351.89 million during the quarter, compared to the consensus estimate of $354.92 million. Kforce had a return on equity of 38.24% and a net margin of 3.99%. Kforce’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. Analysts predict that Kforce will post 3.02 earnings per share for the current fiscal year.

Kforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid 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 2.47%. The ex-dividend date was Thursday, March 14th. Kforce’s dividend payout ratio (DPR) is 48.56%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial upped their price objective on Kforce from $57.00 to $70.00 and gave the company a hold rating in a research report on Thursday, January 25th. Robert W. Baird upped their price target on shares of Kforce from $62.00 to $72.00 and gave the company an outperform rating in a research report on Tuesday, February 6th. Finally, StockNews.com cut shares of Kforce from a buy rating to a hold rating in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Kforce has a consensus rating of Hold and a consensus target price of $68.33.

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.