Kforce, Inc. (KFRC) Expected to Announce Quarterly Sales of $341.03 Million
Analysts expect Kforce, Inc. (NASDAQ:KFRC) to report $341.03 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Kforce’s earnings, with the lowest sales estimate coming in at $339.99 million and the highest estimate coming in at $342.36 million. Kforce reported sales of $336.46 million during the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The firm is expected to issue its next earnings results after the market closes on Tuesday, October 31st.
According to Zacks, analysts expect that Kforce will report full year sales of $341.03 million for the current fiscal year, with estimates ranging from $1.34 billion to $1.36 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.40 billion per share, with estimates ranging from $1.38 billion to $1.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Kforce.
Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). Kforce had a net margin of 2.64% and a return on equity of 29.67%. The firm had revenue of $340.31 million for the quarter, compared to analysts’ expectations of $345.24 million. During the same period last year, the firm posted $0.41 EPS. Kforce’s revenue was up 1.6% on a year-over-year basis.
A number of research firms have recently weighed in on KFRC. SunTrust Banks, Inc. downgraded shares of Kforce from a “buy” rating to a “hold” rating and dropped their price target for the stock from $23.00 to $22.00 in a research note on Wednesday. TheStreet raised shares of Kforce from a “c+” rating to a “b” rating in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Kforce from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Robert W. Baird reissued a “buy” rating and set a $20.00 target price on shares of Kforce in a research report on Tuesday, September 12th. Finally, ValuEngine downgraded shares of Kforce from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $23.20.
In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $17.99, for a total transaction of $89,950.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 13.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its holdings in Kforce by 612.0% during the second quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 4,590 shares during the period. FNY Managed Accounts LLC boosted its holdings in Kforce by 117.8% during the second quarter. FNY Managed Accounts LLC now owns 5,445 shares of the business services provider’s stock valued at $106,000 after acquiring an additional 2,945 shares during the period. Dubuque Bank & Trust Co. boosted its holdings in Kforce by 22.7% during the second quarter. Dubuque Bank & Trust Co. now owns 11,665 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 2,158 shares during the period. AXA bought a new stake in Kforce during the second quarter valued at about $261,000. Finally, KBC Group NV bought a new stake in Kforce during the second quarter valued at about $266,000. 78.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kforce (NASDAQ:KFRC) traded down 0.26% on Thursday, hitting $19.50. The company’s stock had a trading volume of 66,522 shares. The stock has a market capitalization of $493.16 million, a P/E ratio of 14.21 and a beta of 1.59. The stock’s 50 day moving average price is $19.01 and its 200 day moving average price is $19.46. Kforce has a 52 week low of $15.95 and a 52 week high of $26.95.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, September 7th. Kforce’s payout ratio is 35.04%.
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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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