Kforce (NASDAQ:KFRC) Posts Earnings Results, Beats Expectations By $0.02 EPS

Kforce (NASDAQ:KFRC) posted its quarterly earnings results on Monday. The business services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02, Briefing.com reports. Kforce had a net margin of 3.78% and a return on equity of 36.39%. The firm had revenue of $356.32 million for the quarter, compared to analysts’ expectations of $356.20 million. During the same quarter in the prior year, the company posted $0.95 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. Kforce updated its Q3 guidance to $0.65-0.73 EPS and its Q3 2024 guidance to 0.650-0.730 EPS.

Kforce Trading Down 2.4 %

Shares of KFRC stock opened at $66.01 on Tuesday. Kforce has a 12-month low of $53.75 and a 12-month high of $74.79. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average is $62.75 and its 200 day moving average is $65.77. The stock has a market capitalization of $1.29 billion, a P/E ratio of 23.39 and a beta of 0.89.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their price target on shares of Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 30th. Four 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, the company has a consensus rating of “Hold” and a consensus price target of $68.00.

Insider Buying and Selling

In related news, Director Mark F. Furlong sold 5,000 shares of the firm’s 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 sale, the director now owns 26,297 shares in the company, valued at $1,622,524.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Andrew G. Thomas sold 4,801 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total transaction of $294,925.43. Following the sale, the insider now directly owns 94,095 shares in the company, valued at approximately $5,780,255.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark F. Furlong sold 5,000 shares of the firm’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 sale, the director now owns 26,297 shares in the company, valued at $1,622,524.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,439 shares of company stock worth $1,015,114. 5.50% of the stock is owned by insiders.

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.