Kforce (NASDAQ:KFRC) Releases Earnings Results, Beats Estimates By $0.03 EPS

Kforce (NASDAQ:KFRCGet Free Report) posted its quarterly earnings results on Monday. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03, Briefing.com reports. The business had revenue of $363.45 million for the quarter, compared to analysts’ expectations of $363.29 million. Kforce had a return on equity of 36.94% and a net margin of 3.99%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.93 earnings per share. Kforce updated its Q1 guidance to $0.54-0.62 EPS and its Q1 2024 guidance to 0.540-0.620 EPS.

Kforce Stock Performance

KFRC opened at $67.85 on Wednesday. The business has a fifty day simple moving average of $67.76 and a 200 day simple moving average of $63.24. The company has a market capitalization of $1.34 billion, a PE ratio of 21.68 and a beta of 0.87. Kforce has a 1 year low of $50.89 and a 1 year high of $73.37. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.16 and a quick ratio of 2.16.

Insider Transactions at Kforce

In other Kforce news, COO David M. Kelly sold 1,806 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $70.00, for a total value of $126,420.00. Following the transaction, the chief operating officer now directly owns 80,097 shares of the company’s stock, valued at approximately $5,606,790. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kforce

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP boosted its position in Kforce by 117.8% during the 3rd quarter. Gladius Capital Management LP now owns 6,869 shares of the business services provider’s stock worth $410,000 after buying an additional 3,715 shares during the period. State Street Corp boosted its position in Kforce by 2.6% during the 1st quarter. State Street Corp now owns 466,049 shares of the business services provider’s stock worth $34,474,000 after buying an additional 11,923 shares during the period. Graham Capital Management L.P. acquired a new stake in Kforce during the 1st quarter worth approximately $318,000. Renaissance Technologies LLC boosted its position in Kforce by 472.8% during the 1st quarter. Renaissance Technologies LLC now owns 38,949 shares of the business services provider’s stock worth $2,881,000 after buying an additional 32,149 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Kforce by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 264,416 shares of the business services provider’s stock worth $19,559,000 after buying an additional 1,856 shares during the period. 92.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KFRC. Sidoti cut Kforce from a “buy” rating to a “neutral” rating in a report on Friday, December 1st. TheStreet upgraded Kforce from a “c+” rating to a “b-” rating in a report on Monday, November 20th. StockNews.com cut Kforce from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird raised their target price on Kforce from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Truist Financial raised their price target on Kforce from $57.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Kforce has a consensus rating of “Hold” and a consensus price target of $68.33.

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About Kforce

(Get Free Report)

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.

Further Reading

Earnings History for Kforce (NASDAQ:KFRC)

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