Wall Street brokerages expect Kforce, Inc. (NASDAQ:KFRC) to announce $341.03 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided 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 suggests a positive year-over-year growth rate of 1.4%. The business is scheduled to report its next earnings results on Tuesday, November 7th.
On average, analysts expect that Kforce will report full year sales of $341.03 million for the current fiscal year, with estimates ranging from $1.34 billion to $1.36 billion. For the next financial year, analysts anticipate that the company 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 averages are an average based on a survey of sell-side research 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 analysts’ consensus estimates of $0.46 by ($0.02). The business had revenue of $340.31 million for the quarter, compared to analyst estimates of $345.24 million. Kforce had a return on equity of 29.67% and a net margin of 2.64%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS.
A number of research firms have commented on KFRC. Robert W. Baird reaffirmed a “buy” rating and set a $20.00 price objective on shares of Kforce in a research note on Tuesday, September 12th. BidaskClub lowered shares of Kforce from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. TheStreet lowered shares of Kforce from a “b-” rating to a “c+” rating in a research note on Wednesday, May 31st. Zacks Investment Research lowered shares of Kforce from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG reduced their price objective on shares of Kforce from $25.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $24.20.
In other news, COO Kye L. Mitchell sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $17.99, for a total value of $89,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its position in shares of Kforce by 10.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 220,836 shares of the business services provider’s stock worth $5,245,000 after purchasing an additional 20,177 shares in the last quarter. KCG Holdings Inc. purchased a new stake in shares of Kforce in the first quarter worth approximately $482,000. Dupont Capital Management Corp lifted its position in shares of Kforce by 102.1% in the second quarter. Dupont Capital Management Corp now owns 91,921 shares of the business services provider’s stock worth $1,802,000 after purchasing an additional 46,446 shares in the last quarter. Bogle Investment Management L P DE purchased a new stake in shares of Kforce in the first quarter worth approximately $414,000. Finally, Credit Suisse AG lifted its position in shares of Kforce by 35.8% in the first quarter. Credit Suisse AG now owns 46,505 shares of the business services provider’s stock worth $1,104,000 after purchasing an additional 12,252 shares in the last quarter. 78.42% of the stock is owned by institutional investors and hedge funds.
Kforce (NASDAQ KFRC) opened at 18.95 on Friday. The firm has a market cap of $479.25 million, a PE ratio of 13.81 and a beta of 1.56. The firm’s 50-day moving average is $18.04 and its 200-day moving average is $20.03. Kforce has a 12 month low of $15.95 and a 12 month high of $26.95.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, September 7th. Kforce’s dividend payout ratio (DPR) is 35.04%.
Kforce Company Profile
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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