Kforce (NASDAQ:KFRC) Issues Quarterly Earnings Results

Kforce (NASDAQ:KFRC) issued its earnings results on Monday. The business services provider reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58, Briefing.com reports. Kforce had a net margin of 3.99% and a return on equity of 38.24%. The business had revenue of $351.89 million for the quarter, compared to the consensus estimate of $354.92 million. During the same period in the prior year, the firm earned $0.82 EPS. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. Kforce updated its Q2 guidance to $0.68-0.76 EPS and its Q2 2024 guidance to 0.680-0.760 EPS.

Kforce Trading Up 0.2 %

KFRC opened at $64.23 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 20.52 and a beta of 0.85. Kforce has a 12 month low of $50.89 and a 12 month high of $74.79. The stock has a fifty day moving average price of $68.11 and a 200-day moving average price of $66.48.

Kforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Kforce’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.37%. Kforce’s dividend payout ratio (DPR) is currently 48.56%.

Wall Street Analysts Forecast Growth

KFRC has been the topic of several research analyst reports. Truist Financial increased their price objective on Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. Robert W. Baird increased their price target on Kforce from $62.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, StockNews.com lowered Kforce from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Kforce currently has a consensus rating of “Hold” and a consensus price target of $68.33.

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.