Kforce (NASDAQ:KFRC) Issues Q2 2024 Earnings Guidance

Kforce (NASDAQ:KFRC) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.680-0.760 for the period, compared to the consensus earnings per share estimate of 0.760. The company issued revenue guidance of $352.0 million-$360.0 million, compared to the consensus revenue estimate of $363.9 million. Kforce also updated its Q2 guidance to $0.68-0.76 EPS.

Kforce Stock Up 1.5 %

Shares of Kforce stock traded up $0.97 during trading on Thursday, reaching $63.75. 9,943 shares of the company traded hands, compared to its average volume of 106,038. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.37 and a quick ratio of 2.37. Kforce has a 1-year low of $50.89 and a 1-year high of $74.79. The company has a 50 day moving average price of $67.88 and a 200-day moving average price of $66.48. The firm has a market capitalization of $1.24 billion, a PE ratio of 21.72 and a beta of 0.88.

Kforce (NASDAQ:KFRC) last released its earnings results on Monday, April 29th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. Kforce had a net margin of 3.78% and a return on equity of 35.83%. The company had revenue of $351.89 million for the quarter, compared to the consensus estimate of $354.92 million. During the same quarter in the previous year, the company earned $0.82 EPS. Kforce’s quarterly revenue was down 13.3% compared to the same quarter last year. As a group, equities research analysts expect that Kforce will post 2.82 earnings per share for the current fiscal year.

Kforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.52 annualized dividend and a yield of 2.38%. Kforce’s payout ratio is 52.60%.

Analysts Set New Price Targets

Several research firms have weighed in on KFRC. StockNews.com downgraded shares of Kforce from a buy rating to a hold rating in a report on Tuesday, February 6th. Robert W. Baird lowered their price objective on shares of Kforce from $72.00 to $71.00 and set an outperform rating on the stock in a report on Tuesday. Finally, Truist Financial increased their target price on shares of Kforce from $57.00 to $70.00 and gave the company a hold rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $68.00.

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.