Brokerages Expect Kforce Inc. (KFRC) to Announce $0.68 EPS

Wall Street brokerages expect Kforce Inc. (NASDAQ:KFRC) to post $0.68 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Kforce’s earnings, with estimates ranging from $0.65 to $0.73. Kforce reported earnings per share of $0.65 in the same quarter last year, which suggests a positive year over year growth rate of 4.6%. The business is expected to report its next earnings report on Wednesday, August 7th.

On average, analysts expect that Kforce will report full year earnings of $2.46 per share for the current fiscal year, with EPS estimates ranging from $2.37 to $2.64. For the next year, analysts expect that the firm will post earnings of $2.87 per share, with EPS estimates ranging from $2.80 to $2.94. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Kforce.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Kforce had a return on equity of 35.26% and a net margin of 5.41%. The firm had revenue of $326.70 million during the quarter, compared to analyst estimates of $329.80 million. During the same quarter in the prior year, the company posted $0.37 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis.

Several equities analysts have commented on the company. BidaskClub downgraded Kforce from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 28th. ValuEngine upgraded Kforce from a “hold” rating to a “buy” rating in a report on Thursday, February 7th. Finally, Zacks Investment Research downgraded shares of Kforce from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $40.20.

KFRC stock traded up $0.64 during midday trading on Tuesday, hitting $35.56. 83,672 shares of the company traded hands, compared to its average volume of 110,889. Kforce has a twelve month low of $27.95 and a twelve month high of $43.51. The company has a quick ratio of 2.75, a current ratio of 2.43 and a debt-to-equity ratio of 0.47. The company has a market cap of $898.11 million, a PE ratio of 15.46 and a beta of 1.31.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, June 6th. This represents a $0.72 annualized dividend and a dividend yield of 2.02%. Kforce’s payout ratio is currently 31.30%.

In related news, COO Kye L. Mitchell sold 17,513 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.30, for a total value of $635,721.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Kelly sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.77, for a total value of $536,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,013 shares of company stock valued at $1,620,197 over the last 90 days. Corporate insiders own 11.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Hancock Whitney Corp grew its holdings in shares of Kforce by 6.4% during the 1st quarter. Hancock Whitney Corp now owns 263,038 shares of the business services provider’s stock worth $9,238,000 after purchasing an additional 15,884 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Kforce by 9.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 15,346 shares of the business services provider’s stock worth $539,000 after purchasing an additional 1,310 shares in the last quarter. Qtron Investments LLC acquired a new stake in shares of Kforce during the 1st quarter worth $215,000. Northern Trust Corp grew its holdings in shares of Kforce by 0.3% during the 1st quarter. Northern Trust Corp now owns 484,613 shares of the business services provider’s stock worth $17,020,000 after purchasing an additional 1,301 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of Kforce by 22.8% during the 1st quarter. OppenheimerFunds Inc. now owns 10,342 shares of the business services provider’s stock worth $363,000 after purchasing an additional 1,917 shares in the last quarter. Institutional investors and hedge funds own 82.34% of the company’s stock.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.

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