Kforce, Inc. (KFRC) Expected to Announce Quarterly Sales of $340.01 Million
Brokerages predict that Kforce, Inc. (NASDAQ:KFRC) will report $340.01 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Kforce’s earnings, with estimates ranging from $339.04 million to $340.98 million. Kforce posted sales of $326.00 million in the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The business is scheduled to report its next earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that Kforce will report full-year sales of $340.01 million for the current fiscal year, with estimates ranging from $1.35 billion to $1.36 billion. For the next fiscal year, analysts expect that the business will report sales of $1.41 billion per share, with estimates ranging from $1.39 billion to $1.42 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Kforce.
Kforce (NASDAQ:KFRC) last released its earnings results on Tuesday, October 31st. The business services provider reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $341.05 million during the quarter, compared to analysts’ expectations of $340.67 million. Kforce had a net margin of 2.71% and a return on equity of 28.83%. Kforce’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS.
Several brokerages recently commented on KFRC. Deutsche Bank AG reduced their price target on shares of Kforce from $25.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, August 2nd. ValuEngine upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. BidaskClub downgraded shares of Kforce from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research downgraded shares of Kforce from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. Finally, TheStreet upgraded shares of Kforce from a “c+” rating to a “b” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.20.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.03%. Kforce’s payout ratio is 33.57%.
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In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $17.99, for a total value of $89,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Kforce by 10.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 220,836 shares of the business services provider’s stock worth $5,245,000 after purchasing an additional 20,177 shares during the last quarter. KCG Holdings Inc. acquired a new position in shares of Kforce during the 1st quarter worth $482,000. AJO LP acquired a new position in shares of Kforce during the 2nd quarter worth $1,828,000. Dupont Capital Management Corp increased its stake in shares of Kforce by 102.1% during the 2nd quarter. Dupont Capital Management Corp now owns 91,921 shares of the business services provider’s stock worth $1,802,000 after purchasing an additional 46,446 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Kforce by 73.7% during the 2nd quarter. LSV Asset Management now owns 344,933 shares of the business services provider’s stock worth $6,760,000 after purchasing an additional 146,400 shares during the last quarter. Institutional investors own 78.54% of the company’s stock.
Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.
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