FY2024 Earnings Estimate for Kforce Issued By William Blair

Kforce Inc. (NASDAQ:KFRC) – William Blair lifted their FY2024 earnings estimates for Kforce in a research note issued on Tuesday, October 29th. William Blair analyst T. Romeo now expects that the business services provider will earn $2.68 per share for the year, up from their previous forecast of $2.63. The consensus estimate for Kforce’s current full-year earnings is $2.68 per share.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.69 by $0.06. Kforce had a net margin of 3.86% and a return on equity of 33.70%. The company had revenue of $353.30 million during the quarter, compared to the consensus estimate of $352.19 million. During the same quarter last year, the firm posted $0.90 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis.

Several other research analysts have also commented on the company. StockNews.com lowered Kforce from a “buy” rating to a “hold” rating in a report on Thursday. Truist Financial lowered their price objective on Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Sidoti raised Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $65.75.

Kforce Trading Down 3.4 %

Shares of KFRC opened at $55.85 on Thursday. The business has a 50-day moving average of $60.11 and a 200 day moving average of $62.30. Kforce has a fifty-two week low of $52.96 and a fifty-two week high of $74.79. The firm has a market cap of $1.08 billion, a P/E ratio of 19.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.33 and a current ratio of 2.33.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Blue Trust Inc. increased its stake in Kforce by 59.9% during the second quarter. Blue Trust Inc. now owns 427 shares of the business services provider’s stock worth $27,000 after acquiring an additional 160 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in Kforce in the 3rd quarter valued at about $30,000. nVerses Capital LLC increased its position in Kforce by 50.0% in the 2nd quarter. nVerses Capital LLC now owns 900 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 300 shares during the period. Canada Pension Plan Investment Board acquired a new position in Kforce during the 2nd quarter worth approximately $68,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Kforce by 96.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,313 shares of the business services provider’s stock worth $82,000 after purchasing an additional 643 shares during the period. 92.77% of the stock is owned by institutional investors and hedge funds.

Kforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, December 6th. Kforce’s dividend payout ratio (DPR) is currently 52.41%.

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.