Kforce Inc. (NASDAQ:KFRC) Expected to Post Quarterly Sales of $363.45 Million

Wall Street analysts expect Kforce Inc. (NASDAQ:KFRC) to announce sales of $363.45 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Kforce’s earnings. The lowest sales estimate is $362.61 million and the highest is $365.00 million. Kforce posted sales of $345.56 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The business is scheduled to report its next earnings report on Wednesday, November 4th.

According to Zacks, analysts expect that Kforce will report full year sales of $1.38 billion for the current financial year, with estimates ranging from $1.37 billion to $1.40 billion. For the next year, analysts forecast that the company will report sales of $1.36 billion, with estimates ranging from $1.31 billion to $1.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Kforce.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Monday, August 10th. The business services provider reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.16. The business had revenue of $343.02 million for the quarter, compared to analyst estimates of $313.79 million. Kforce had a return on equity of 29.96% and a net margin of 3.54%. Kforce’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share.

KFRC has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on Kforce from $30.00 to $35.00 in a report on Tuesday, August 11th. BidaskClub upgraded Kforce from a “hold” rating to a “buy” rating in a report on Thursday. William Blair upgraded Kforce from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 11th. Zacks Investment Research upgraded Kforce from a “hold” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research note on Friday, August 14th. Finally, Credit Suisse Group boosted their target price on Kforce from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.83.

In other news, Director Ralph Struzziero sold 2,760 shares of Kforce stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $37.26, for a total value of $102,837.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Advisers LP grew its position in Kforce by 6.0% during the first quarter. Two Sigma Advisers LP now owns 49,410 shares of the business services provider’s stock worth $1,263,000 after buying an additional 2,800 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Kforce by 17.4% in the 1st quarter. Nuveen Asset Management LLC now owns 409,118 shares of the business services provider’s stock worth $10,461,000 after purchasing an additional 60,558 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Kforce by 102.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 38,413 shares of the business services provider’s stock worth $1,124,000 after purchasing an additional 19,428 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Kforce by 125.8% in the 1st quarter. Deutsche Bank AG now owns 372,817 shares of the business services provider’s stock worth $9,533,000 after purchasing an additional 207,738 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new position in shares of Kforce in the 2nd quarter worth about $1,152,000. Institutional investors own 80.43% of the company’s stock.

Shares of Kforce stock opened at $38.01 on Thursday. The business’s fifty day simple moving average is $34.26 and its 200 day simple moving average is $30.75. The firm has a market capitalization of $834.21 million, a P/E ratio of 17.52 and a beta of 1.49. Kforce has a 12 month low of $20.60 and a 12 month high of $42.64. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.66.

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Thursday, September 10th. Kforce’s dividend payout ratio (DPR) is presently 34.04%.

About Kforce

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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