Kforce (NASDAQ:KFRC) Issues Q3 2024 Earnings Guidance

Kforce (NASDAQ:KFRC) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.650-0.730 for the period, compared to the consensus earnings per share estimate of 0.790. The company issued revenue guidance of $347.0 million-$355.0 million, compared to the consensus revenue estimate of $363.6 million. Kforce also updated its Q3 guidance to $0.65-0.73 EPS.

Kforce Stock Down 1.2 %

Shares of KFRC stock traded down $0.81 during trading hours on Monday, reaching $67.60. 77,706 shares of the stock were exchanged, compared to its average volume of 97,720. The business’s fifty day moving average is $62.75 and its two-hundred day moving average is $65.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.32 and a quick ratio of 2.32. Kforce has a 12-month low of $53.75 and a 12-month high of $74.79. The firm has a market capitalization of $1.32 billion, a P/E ratio of 23.39 and a beta of 0.89.

Kforce (NASDAQ:KFRC) last released its earnings results on Monday, April 29th. The business services provider reported $0.58 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.58. Kforce had a net margin of 3.78% and a return on equity of 36.39%. The firm had revenue of $351.89 million for the quarter, compared to analyst estimates of $354.92 million. During the same period in the prior year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. As a group, research analysts expect that Kforce will post 2.82 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Robert W. Baird cut their target price on shares of Kforce from $72.00 to $71.00 and set an outperform rating on the stock in a research note on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Kforce currently has an average rating of Hold and an average target price of $68.00.

Insider Buying and Selling at Kforce

In other Kforce news, Director Mark F. Furlong sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $61.70, for a total value of $308,500.00. Following the transaction, the director now directly owns 26,297 shares in the company, valued at $1,622,524.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Andrew G. Thomas sold 4,801 shares of Kforce stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total value of $294,925.43. Following the transaction, the insider now directly owns 94,095 shares of the company’s stock, valued at approximately $5,780,255.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark F. Furlong sold 5,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $61.70, for a total transaction of $308,500.00. Following the completion of the sale, the director now owns 26,297 shares of the company’s stock, valued at approximately $1,622,524.90. The disclosure for this sale can be found here. Insiders have sold 16,439 shares of company stock worth $1,015,114 over the last three months. Insiders own 5.50% of the company’s stock.

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.