Kforce (NASDAQ:KFRC) Issues Q2 Earnings Guidance

Kforce (NASDAQ:KFRC) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.68-0.76 for the period, compared to the consensus earnings per share estimate of $0.76. The company issued revenue guidance of $352-360 million, compared to the consensus revenue estimate of $363.93 million. Kforce also updated its Q2 2024 guidance to 0.680-0.760 EPS.

Kforce Stock Performance

KFRC traded down $2.49 on Tuesday, hitting $61.74. The company had a trading volume of 46,263 shares, compared to its average volume of 105,530. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 20.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.37 and a quick ratio of 2.37. The company’s fifty day moving average price is $68.11 and its 200 day moving average price is $66.48. Kforce has a 1-year low of $50.89 and a 1-year high of $74.79.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The company had revenue of $351.89 million for the quarter, compared to analyst estimates of $354.92 million. Kforce had a net margin of 3.99% and a return on equity of 38.24%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. Equities analysts predict that Kforce will post 3.02 earnings per share for the current fiscal year.

Kforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.46%. This is a boost from Kforce’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 14th. Kforce’s dividend payout ratio is 48.56%.

Analyst Upgrades and Downgrades

KFRC has been the subject of several research analyst reports. Truist Financial boosted their price objective on Kforce from $57.00 to $70.00 and gave the stock a hold rating in a research report on Thursday, January 25th. Robert W. Baird upped their price target on Kforce from $62.00 to $72.00 and gave the stock an outperform rating in a report on Tuesday, February 6th. Finally, StockNews.com downgraded shares of Kforce from a buy rating to a hold rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $68.33.

Kforce Company Profile

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.