Brokerages expect Kforce Inc. (NASDAQ:KFRC) to post $345.37 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Kforce’s earnings, with estimates ranging from $345.03 million to $345.97 million. Kforce reported sales of $333.99 million in the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The business is expected to announce its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Kforce will report full year sales of $345.37 million for the current financial year, with estimates ranging from $1.40 billion to $1.42 billion. For the next financial year, analysts anticipate that the business will report sales of $1.48 billion per share, with estimates ranging from $1.45 billion to $1.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Kforce.
Kforce (NASDAQ:KFRC) last posted its earnings results on Tuesday, February 6th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $342.60 million during the quarter, compared to analyst estimates of $340.02 million. Kforce had a net margin of 2.45% and a return on equity of 29.84%. Kforce’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Kforce from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. BidaskClub downgraded Kforce from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 27th. ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a report on Friday, October 27th. Northcoast Research upgraded Kforce from a “neutral” rating to a “buy” rating in a report on Monday, November 6th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $25.00 price target on shares of Kforce in a report on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.50.
In related news, CEO David L. Dunkel sold 1,500 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $26.50, for a total value of $39,750.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ralph Struzziero sold 4,500 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $25.85, for a total value of $116,325.00. Following the completion of the transaction, the director now directly owns 50,764 shares in the company, valued at approximately $1,312,249.40. The disclosure for this sale can be found here. In the last three months, insiders sold 80,794 shares of company stock worth $2,116,292. 13.30% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its holdings in Kforce by 13.1% in the 2nd quarter. Wells Fargo & Company MN now owns 57,251 shares of the business services provider’s stock worth $1,122,000 after buying an additional 6,632 shares during the last quarter. Nationwide Fund Advisors increased its stake in Kforce by 207.2% during the 2nd quarter. Nationwide Fund Advisors now owns 43,807 shares of the business services provider’s stock worth $859,000 after buying an additional 29,545 shares during the period. Northern Trust Corp increased its stake in Kforce by 0.4% during the 2nd quarter. Northern Trust Corp now owns 623,772 shares of the business services provider’s stock worth $12,226,000 after buying an additional 2,227 shares during the period. Vanguard Group Inc. increased its stake in Kforce by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,067,198 shares of the business services provider’s stock worth $40,517,000 after buying an additional 33,998 shares during the period. Finally, California Public Employees Retirement System increased its stake in Kforce by 0.3% during the 2nd quarter. California Public Employees Retirement System now owns 116,000 shares of the business services provider’s stock worth $2,274,000 after buying an additional 400 shares during the period. 78.11% of the stock is currently owned by institutional investors.
Kforce (NASDAQ KFRC) remained flat at $$27.85 during trading on Thursday. 148,075 shares of the stock were exchanged, compared to its average volume of 139,362. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.95 and a current ratio of 2.95. The stock has a market capitalization of $737.11, a price-to-earnings ratio of 17.74 and a beta of 1.73. Kforce has a 1 year low of $16.75 and a 1 year high of $28.40.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a $0.12 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.48 annualized dividend and a yield of 1.72%. Kforce’s dividend payout ratio (DPR) is currently 36.64%.
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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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