Kforce (KFRC) Projected to Post Quarterly Earnings on Monday

Kforce (NASDAQ:KFRC) is expected to release its results after the market closes on Monday, November 3rd. Analysts expect Kforce to post earnings of $0.57 per share and revenue of $328.3370 million for the quarter.

Kforce (NASDAQ:KFRC) last issued its earnings results on Monday, July 28th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Kforce had a return on equity of 30.34% and a net margin of 3.59%.The company had revenue of $334.32 million during the quarter, compared to analyst estimates of $333.78 million. During the same period last year, the business earned $0.75 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. On average, analysts expect Kforce to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Kforce Stock Up 0.9%

Shares of KFRC opened at $27.80 on Monday. Kforce has a 52-week low of $26.90 and a 52-week high of $62.80. The company has a market capitalization of $517.05 million, a PE ratio of 10.37 and a beta of 0.66. The stock has a fifty day simple moving average of $30.26 and a two-hundred day simple moving average of $37.08. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16.

Institutional Trading of Kforce

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its holdings in Kforce by 273.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,865 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 1,365 shares during the period. Vident Advisory LLC boosted its holdings in Kforce by 13.9% during the 2nd quarter. Vident Advisory LLC now owns 14,797 shares of the business services provider’s stock valued at $609,000 after acquiring an additional 1,810 shares during the period. Man Group plc purchased a new position in Kforce during the 2nd quarter valued at about $808,000. Engineers Gate Manager LP boosted its holdings in Kforce by 37.1% during the 2nd quarter. Engineers Gate Manager LP now owns 38,078 shares of the business services provider’s stock valued at $1,566,000 after acquiring an additional 10,308 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in Kforce by 70.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 19,823 shares of the business services provider’s stock valued at $815,000 after acquiring an additional 8,209 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KFRC. UBS Group cut their target price on Kforce from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, July 30th. Zacks Research raised Kforce from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Truist Financial cut their target price on Kforce from $46.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, October 13th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.50.

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.