Kforce Inc. (NASDAQ:KFRC) Plans Quarterly Dividend of $0.38

Kforce Inc. (NASDAQ:KFRC) announced a quarterly dividend on Monday, April 29th, Zacks reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.38 per share by the business services provider on Friday, June 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, June 14th.

Kforce has raised its dividend payment by an average of 21.6% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Kforce has a dividend payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kforce to earn $3.56 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 42.7%.

Kforce Price Performance

Shares of NASDAQ KFRC traded up $0.34 during mid-day trading on Wednesday, reaching $62.10. The company’s stock had a trading volume of 1,980 shares, compared to its average volume of 106,120. The stock has a 50-day moving average of $67.98 and a two-hundred day moving average of $66.50. The stock has a market capitalization of $1.21 billion, a P/E ratio of 21.37 and a beta of 0.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.37 and a current ratio of 2.37. Kforce has a 1-year low of $50.89 and a 1-year high of $74.79.

Kforce (NASDAQ:KFRC) last issued its 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 business had revenue of $351.89 million during the quarter, compared to analysts’ expectations of $354.92 million. Kforce had a net margin of 3.78% and a return on equity of 35.83%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. On average, equities research analysts anticipate that Kforce will post 3.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KFRC. Robert W. Baird reduced their target price on shares of Kforce from $72.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday. StockNews.com cut shares of Kforce from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. Finally, Truist Financial raised their price objective on shares of Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Kforce presently has an average rating of “Hold” and a consensus target price of $68.00.

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.