Kforce Inc. (NASDAQ:KFRC) Plans Quarterly Dividend of $0.38

Kforce Inc. (NASDAQ:KFRC) announced a quarterly dividend on Wednesday, July 31st, Wall Street Journal reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.38 per share by the business services provider on Friday, September 27th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, September 13th.

Kforce has a payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kforce to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 48.6%.

Kforce Trading Down 1.1 %

Shares of NASDAQ:KFRC opened at $69.47 on Thursday. The stock has a market cap of $1.35 billion, a PE ratio of 23.02 and a beta of 0.89. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.25. Kforce has a 12-month low of $53.75 and a 12-month high of $74.79. The business has a 50 day moving average of $62.92 and a 200-day moving average of $65.81.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, July 29th. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. Kforce had a net margin of 3.56% and a return on equity of 34.84%. The company had revenue of $356.32 million during the quarter, compared to the consensus estimate of $356.20 million. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Kforce will post 2.7 earnings per share for the current year.

Insider Buying and Selling at Kforce

In other news, insider Andrew G. Thomas sold 4,801 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $61.43, for a total transaction of $294,925.43. Following the transaction, the insider now directly owns 94,095 shares of the company’s stock, valued at $5,780,255.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Joseph J. Liberatore sold 6,638 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $62.02, for a total transaction of $411,688.76. Following the transaction, the chief executive officer now directly owns 213,689 shares of the company’s stock, valued at $13,252,991.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew G. Thomas sold 4,801 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total transaction of $294,925.43. Following the completion of the sale, the insider now owns 94,095 shares of the company’s stock, valued at approximately $5,780,255.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,439 shares of company stock valued at $1,015,114. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price objective on Kforce from $72.00 to $71.00 and set an “outperform” rating for the company in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.00.

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.