FY2024 Earnings Forecast for Kforce Issued By William Blair

Kforce Inc. (NASDAQ:KFRC - Free Report) - Analysts at William Blair increased their FY2024 earnings per share estimates for shares of Kforce in a note issued to investors on Tuesday, October 29th. William Blair analyst T. Romeo now forecasts that the business services provider will post earnings of $2.68 per share for the year, up from their prior forecast of $2.63. The consensus estimate for Kforce's current full-year earnings is $2.70 per share.

Kforce (NASDAQ:KFRC - Get Free Report) last posted its earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.06. The business had revenue of $353.30 million during the quarter, compared to analyst estimates of $352.19 million. Kforce had a return on equity of 34.89% and a net margin of 3.56%. The company's quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS.

KFRC has been the subject of a number of other research reports. Sidoti upgraded Kforce from a "neutral" rating to a "buy" rating and set a $71.00 price target for the company in a research report on Tuesday, October 15th. Truist Financial dropped their price target on Kforce from $68.00 to $58.00 and set a "hold" rating for the company in a research report on Tuesday. Finally, StockNews.com upgraded Kforce from a "hold" rating to a "buy" rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Kforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.75.

Kforce Price Performance

Shares of KFRC traded down $0.61 during trading hours on Thursday, reaching $57.79. 187,156 shares of the company's stock traded hands, compared to its average volume of 112,710. The stock has a market cap of $1.12 billion, a PE ratio of 19.88 and a beta of 0.87. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.22. The firm's 50 day simple moving average is $60.24 and its 200-day simple moving average is $62.33. Kforce has a 12 month low of $52.96 and a 12 month high of $74.79.

Institutional Trading of Kforce

A number of hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in Kforce by 2.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 33,815 shares of the business services provider's stock worth $2,078,000 after buying an additional 821 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Kforce by 10.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,722 shares of the business services provider's stock valued at $660,000 after purchasing an additional 1,043 shares during the last quarter. Raymond James & Associates lifted its position in Kforce by 3.8% in the third quarter. Raymond James & Associates now owns 98,253 shares of the business services provider's stock valued at $6,038,000 after purchasing an additional 3,560 shares during the last quarter. Blue Trust Inc. lifted its position in Kforce by 259.5% in the third quarter. Blue Trust Inc. now owns 1,535 shares of the business services provider's stock valued at $95,000 after purchasing an additional 1,108 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Kforce in the third quarter valued at approximately $30,000. Institutional investors own 92.77% of the company's stock.

Kforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.52 dividend on an annualized basis and a yield of 2.63%. Kforce's payout ratio is 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.