Kforce (NASDAQ:KFRC) Issues Quarterly Earnings Results

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

Kforce Price Performance

Kforce stock opened at $64.23 on Tuesday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 20.52 and a beta of 0.85. Kforce has a one year low of $50.89 and a one year high of $74.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.37 and a quick ratio of 2.37. The business has a fifty day moving average price of $68.11 and a 200-day moving average price of $66.48.

Kforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.38 per share. This is a boost from Kforce’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.37%. Kforce’s payout ratio is presently 48.56%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KFRC. Truist Financial raised their target price on Kforce from $57.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, January 25th. Robert W. Baird lifted their price objective on shares of 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 cut shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Kforce has a consensus rating of “Hold” and an average target price of $68.33.

Kforce Company Profile

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.