Kforce Inc. (NASDAQ:KFRC) Expected to Announce Quarterly Sales of $440.48 Million

Wall Street analysts expect Kforce Inc. (NASDAQ:KFRCGet Rating) to report $440.48 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Kforce’s earnings. The highest sales estimate is $441.00 million and the lowest is $439.96 million. Kforce reported sales of $403.61 million in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The firm is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Kforce will report full-year sales of $1.74 billion for the current fiscal year, with estimates ranging from $1.73 billion to $1.75 billion. For the next financial year, analysts anticipate that the business will report sales of $1.82 billion, with estimates ranging from $1.81 billion to $1.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Kforce.

Kforce (NASDAQ:KFRCGet Rating) last issued its earnings results on Monday, May 2nd. The business services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.18. Kforce had a return on equity of 42.52% and a net margin of 4.96%. During the same period in the prior year, the firm posted $0.62 EPS.

Several research analysts have commented on the company. Zacks Investment Research raised shares of Kforce from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Thursday, May 5th. StockNews.com began coverage on shares of Kforce in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Truist Financial lifted their target price on Kforce from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, February 8th.

Shares of KFRC stock opened at $68.66 on Thursday. The business has a fifty day simple moving average of $72.55 and a 200 day simple moving average of $72.86. The company has a market cap of $1.47 billion, a P/E ratio of 17.74 and a beta of 1.06. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.50. Kforce has a twelve month low of $55.94 and a twelve month high of $81.47.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, June 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 9th. Kforce’s payout ratio is currently 31.01%.

In other Kforce news, CFO David M. Kelly sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $75.44, for a total value of $377,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David M. Kelly sold 417 shares of the firm’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $70.00, for a total transaction of $29,190.00. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc raised its holdings in Kforce by 456.1% during the 4th quarter. IFP Advisors Inc now owns 367 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 301 shares during the period. UMB Bank N A MO purchased a new position in shares of Kforce in the fourth quarter valued at $69,000. Koshinski Asset Management Inc. raised its stake in shares of Kforce by 134.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 938 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 538 shares during the period. Gladius Capital Management LP purchased a new stake in Kforce during the 4th quarter worth about $133,000. Finally, USA Financial Portformulas Corp purchased a new stake in Kforce during the 4th quarter worth about $204,000. 87.40% of the stock is owned by institutional investors and hedge funds.

About Kforce (Get Rating)

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.

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