Kforce Inc. Forecasted to Earn Q2 2024 Earnings of $0.72 Per Share (NASDAQ:KFRC)

Kforce Inc. (NASDAQ:KFRC) – Analysts at William Blair cut their Q2 2024 earnings per share estimates for shares of Kforce in a research note issued on Tuesday, April 30th. William Blair analyst T. Mulrooney now anticipates that the business services provider will post earnings of $0.72 per share for the quarter, down from their prior estimate of $0.85. The consensus estimate for Kforce’s current full-year earnings is $3.02 per share. William Blair also issued estimates for Kforce’s Q3 2024 earnings at $0.74 EPS, FY2024 earnings at $2.76 EPS, Q2 2025 earnings at $0.85 EPS, Q3 2025 earnings at $0.91 EPS, Q4 2025 earnings at $0.91 EPS and FY2025 earnings at $3.29 EPS.

KFRC has been the topic of several other reports. Robert W. Baird cut their target price on shares of Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday. StockNews.com lowered shares of Kforce from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, Truist Financial boosted their price objective on shares of Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Kforce has an average rating of “Hold” and an average price target of $68.00.

Kforce Trading Down 3.8 %

NASDAQ KFRC opened at $61.76 on Wednesday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 21.37 and a beta of 0.85. Kforce has a twelve month low of $50.89 and a twelve month high of $74.79. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average is $67.98 and its 200 day moving average is $66.50.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, meeting the consensus estimate of $0.58. The business had revenue of $351.89 million during the quarter, compared to the consensus estimate of $354.92 million. Kforce had a net margin of 3.78% and a return on equity of 35.83%. The firm’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS.

Kforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued 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 yield of 2.46%. The ex-dividend date of this dividend was Thursday, March 14th. Kforce’s payout ratio is presently 52.60%.

Institutional Trading of Kforce

Several hedge funds have recently modified their holdings of the stock. Exchange Traded Concepts LLC grew its stake in shares of Kforce by 7.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,556 shares of the business services provider’s stock valued at $391,000 after buying an additional 430 shares during the period. GW Henssler & Associates Ltd. bought a new position in Kforce in the third quarter worth approximately $213,000. Bank of New York Mellon Corp grew its stake in Kforce by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 168,688 shares of the business services provider’s stock valued at $10,064,000 after acquiring an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Kforce by 5.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,674 shares of the business services provider’s stock valued at $637,000 after purchasing an additional 567 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in Kforce during the third quarter worth $307,000. Institutional investors own 92.77% of the company’s stock.

About Kforce

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.