Kforce (NASDAQ:KFRC) Releases Earnings Results, Beats Estimates By $0.02 EPS

Kforce (NASDAQ:KFRC) issued its earnings results on Monday. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02, Briefing.com reports. Kforce had a return on equity of 34.84% and a net margin of 3.56%. The company had revenue of $356.32 million for the quarter, compared to analysts’ expectations of $356.20 million. During the same period last year, the business earned $0.95 EPS. Kforce’s quarterly revenue was down 8.4% compared to the same quarter last year. Kforce updated its Q3 guidance to $0.65-0.73 EPS and its Q3 2024 guidance to 0.650-0.730 EPS.

Kforce Stock Down 0.1 %

Kforce stock traded down $0.09 during trading on Thursday, hitting $69.38. 4,689 shares of the company were exchanged, compared to its average volume of 98,052. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.25. The business’s 50 day moving average is $62.92 and its 200 day moving average is $65.81. Kforce has a 52 week low of $55.55 and a 52 week high of $74.79. The company has a market capitalization of $1.35 billion, a P/E ratio of 23.02 and a beta of 0.89.

Kforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.52 annualized dividend and a dividend yield of 2.19%. Kforce’s payout ratio is 52.60%.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their price objective on shares of Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.00.

Insider Buying and Selling at Kforce

In other news, CEO Joseph J. Liberatore sold 6,638 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $62.02, for a total value of $411,688.76. Following the completion of the sale, the chief executive officer now owns 213,689 shares in the company, valued at approximately $13,252,991.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Mark F. Furlong sold 5,000 shares of Kforce stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total transaction of $308,500.00. Following the sale, the director now directly owns 26,297 shares in the company, valued at $1,622,524.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph J. Liberatore sold 6,638 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $62.02, for a total value of $411,688.76. Following the completion of the transaction, the chief executive officer now directly owns 213,689 shares in the company, valued at approximately $13,252,991.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,439 shares of company stock worth $1,015,114. Corporate insiders own 5.50% 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.