Kforce Inc. (KFRC) to Post Q3 2016 Earnings of $0.42 Per Share, Avondale Partners Forecasts
Kforce Inc. (NASDAQ:KFRC) – Investment analysts at Avondale Partners issued their Q3 2016 earnings per share estimates for shares of Kforce in a research note issued to investors on Thursday. Avondale Partners analyst R. Reece anticipates that the brokerage will earn $0.42 per share for the quarter.
Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The firm earned $335 million during the quarter, compared to analyst estimates of $334.91 million. Kforce had a return on equity of 31.94% and a net margin of 3.01%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 earnings per share.
Other research analysts have also recently issued reports about the company. Credit Suisse Group AG reaffirmed a “buy” rating and set a $21.00 price objective on shares of Kforce in a research report on Wednesday, August 3rd. Zacks Investment Research raised Kforce from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Deutsche Bank AG assumed coverage on Kforce in a report on Wednesday, August 17th. They issued a “hold” rating and a $19.00 price target on the stock.
Shares of Kforce (NASDAQ:KFRC) opened at 20.37 on Monday. The stock’s 50 day moving average price is $19.47 and its 200-day moving average price is $18.70. Kforce has a 1-year low of $14.87 and a 1-year high of $28.84. The stock has a market cap of $533.57 million, a price-to-earnings ratio of 13.84 and a beta of 1.56.
A number of hedge funds have recently added to or reduced their stakes in the company. Investment Counselors of Maryland LLC purchased a new stake in Kforce during the second quarter worth about $12,420,000. Macquarie Group Ltd. increased its stake in Kforce by 40.6% in the second quarter. Macquarie Group Ltd. now owns 1,021,504 shares of the company’s stock worth $17,253,000 after buying an additional 295,173 shares during the last quarter. RidgeWorth Capital Management LLC increased its stake in Kforce by 47.8% in the second quarter. RidgeWorth Capital Management LLC now owns 883,737 shares of the company’s stock worth $15,077,000 after buying an additional 285,795 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Kforce by 55.6% in the second quarter. UBS Asset Management Americas Inc. now owns 480,133 shares of the company’s stock worth $8,109,000 after buying an additional 171,512 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Kforce by 67.1% in the first quarter. Royce & Associates LP now owns 424,474 shares of the company’s stock worth $8,311,000 after buying an additional 170,500 shares during the last quarter. 80.63% of the stock is currently owned by institutional investors and hedge funds.
In other Kforce news, COO Kye L. Mitchell sold 3,732 shares of Kforce stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $19.82, for a total value of $73,968.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gordon Tunstall sold 5,000 shares of Kforce stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $18.69, for a total value of $93,450.00. The disclosure for this sale can be found here. 12.80% of the stock is owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.36%. Kforce’s dividend payout ratio is presently 32.88%.
Kforce Inc is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), which provides both temporary staffing and permanent placement services to its clients, focusing primarily on areas of information technology, such as systems/applications, e-commerce, technology infrastructure, network architecture and security; Finance and Accounting (FA), which is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others, and Government Solutions (GS), which is engaged in providing services and solutions to the Federal Government as both a prime contractor and a subcontractor in the fields of information technology, and finance and accounting.
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