Zacks: Analysts Expect Kforce Inc. (KFRC) Will Post Earnings of $0.66 Per Share
Equities research analysts expect Kforce Inc. (NASDAQ:KFRC) to post earnings of $0.66 per share for the current quarter, according to Zacks. Three analysts have made estimates for Kforce’s earnings, with estimates ranging from $0.65 to $0.66. Kforce posted earnings of $0.45 per share in the same quarter last year, which would indicate a positive year over year growth rate of 46.7%. The business is expected to report its next earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that Kforce will report full year earnings of $2.25 per share for the current fiscal year, with EPS estimates ranging from $2.22 to $2.26. For the next year, analysts expect that the firm will report earnings of $2.60 per share, with EPS estimates ranging from $2.53 to $2.67. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Kforce.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Kforce had a net margin of 3.00% and a return on equity of 34.52%. The firm had revenue of $358.62 million during the quarter, compared to the consensus estimate of $358.07 million. During the same period in the prior year, the firm earned $0.44 EPS. The business’s revenue was up 5.4% on a year-over-year basis.
Kforce stock traded down $0.45 during mid-day trading on Friday, reaching $39.75. The company had a trading volume of 130,100 shares, compared to its average volume of 194,207. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.77 and a quick ratio of 2.77. Kforce has a 52 week low of $17.56 and a 52 week high of $43.51. The company has a market cap of $1.04 billion, a PE ratio of 25.32 and a beta of 1.64.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 21st. Shareholders of record on Friday, September 7th will be issued a $0.18 dividend. The ex-dividend date is Thursday, September 6th. This is an increase from Kforce’s previous quarterly dividend of $0.12. This represents a $0.72 dividend on an annualized basis and a yield of 1.81%. Kforce’s dividend payout ratio is 45.86%.
In other news, CEO David L. Dunkel sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $42.50, for a total transaction of $1,062,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Howard W. Sutter sold 9,710 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $42.50, for a total transaction of $412,675.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,991 shares of company stock valued at $3,416,061. Insiders own 13.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in KFRC. Mount Yale Investment Advisors LLC bought a new position in shares of Kforce during the 1st quarter worth about $122,000. Citigroup Inc. lifted its holdings in shares of Kforce by 84.0% during the 1st quarter. Citigroup Inc. now owns 6,848 shares of the business services provider’s stock worth $185,000 after acquiring an additional 3,127 shares during the period. Meeder Asset Management Inc. lifted its holdings in shares of Kforce by 207.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,567 shares of the business services provider’s stock worth $191,000 after acquiring an additional 3,759 shares during the period. Verition Fund Management LLC bought a new position in shares of Kforce during the 1st quarter worth about $203,000. Finally, Koch Industries Inc. bought a new position in shares of Kforce during the 1st quarter worth about $206,000. 79.70% of the stock is owned by institutional investors.
Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.
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