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

Kforce Inc. (NASDAQ:KFRC) announced a quarterly dividend on Wednesday, October 30th, Wall Street Journal reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.38 per share by the business services provider on Friday, December 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, December 6th.

Kforce has a dividend payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of KFRC traded up $1.34 during mid-day trading on Wednesday, hitting $58.40. 181,866 shares of the company’s stock were exchanged, compared to its average volume of 112,356. The stock’s 50-day simple moving average is $60.36 and its 200-day simple moving average is $62.36. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 21.33 and a beta of 0.87. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.22. Kforce has a 52 week low of $52.96 and a 52 week high of $74.79.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. The business had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $352.19 million. Kforce had a net margin of 3.56% and a return on equity of 34.89%. Kforce’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, equities research analysts expect that Kforce will post 2.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KFRC. Truist Financial cut their target price on Kforce from $68.00 to $58.00 and set a “hold” rating for the company in a research note on Tuesday. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.75.

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.