Kforce (NASDAQ:KFRC) Issues Q3 2022 Earnings Guidance

Posted by Jim Brewer on Aug 6th, 2022

Kforce (NASDAQ:KFRC – Get Rating) updated its third quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of $1.03-$1.11 for the period, compared to the consensus EPS estimate of $1.15. The company issued revenue guidance of $430.00 million-$438.00 million, compared to the consensus revenue estimate of $444.88 million.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KFRC. Robert W. Baird reduced their target price on shares of Kforce from $80.00 to $70.00 and set an outperform rating on the stock in a report on Friday. StockNews.com lowered shares of Kforce from a strong-buy rating to a buy rating in a report on Wednesday. Finally, Truist Financial cut their price objective on shares of Kforce from $80.00 to $65.00 in a report on Friday, July 15th.

Kforce Stock Down 0.7 %

Shares of KFRC traded down $0.38 during midday trading on Friday, hitting $57.95. The company had a trading volume of 139,904 shares, compared to its average volume of 114,771. The company’s 50 day moving average price is $62.60 and its 200 day moving average price is $68.17. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 13.90 and a beta of 1.05. Kforce has a 52 week low of $55.94 and a 52 week high of $81.47. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.50.

Kforce (NASDAQ:KFRC – Get Rating) last released its earnings results on Monday, August 1st. The business services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.12. The company had revenue of $436.50 million during the quarter, compared to the consensus estimate of $440.44 million. Kforce had a net margin of 5.21% and a return on equity of 45.18%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, equities research analysts predict that Kforce will post 4.16 EPS for the current year.

Kforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, September 15th. Kforce’s dividend payout ratio is presently 28.78%.

Insider Activity at Kforce

In related news, Director N John Simmons sold 3,500 shares of the business’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $65.25, for a total transaction of $228,375.00. Following the completion of the sale, the director now owns 14,421 shares of the company’s stock, valued at approximately $940,970.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Kforce by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 2,125,790 shares of the business services provider’s stock worth $157,245,000 after purchasing an additional 43,549 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Kforce by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 819,920 shares of the business services provider’s stock worth $60,651,000 after acquiring an additional 12,263 shares during the period. State Street Corp lifted its stake in shares of Kforce by 2.6% in the 1st quarter. State Street Corp now owns 466,049 shares of the business services provider’s stock worth $34,474,000 after acquiring an additional 11,923 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Kforce by 0.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 266,965 shares of the business services provider’s stock worth $19,747,000 after acquiring an additional 1,408 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Kforce by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 264,416 shares of the business services provider’s stock worth $19,559,000 after acquiring an additional 1,856 shares during the period. Institutional investors own 87.40% of the company’s stock.

About Kforce

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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.