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 EPS guidance of 0.680-0.760 for the period, compared to the consensus EPS 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 Price Performance

KFRC stock traded up $0.10 during trading on Monday, hitting $64.23. The company had a trading volume of 70,403 shares, compared to its average volume of 106,374. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 20.66 and a beta of 0.85. The business has a 50 day moving average of $68.19 and a 200 day moving average of $66.45. Kforce has a fifty-two week low of $50.89 and a fifty-two week high of $74.79. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.26.

Kforce (NASDAQ:KFRC) last issued its quarterly earnings results on Monday, February 5th. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. Kforce had a net margin of 3.99% and a return on equity of 38.24%. The company had revenue of $363.45 million during the quarter, compared to the consensus estimate of $363.29 million. During the same period in the prior year, the company earned $0.93 EPS. Kforce’s revenue was down 13.4% on a year-over-year basis. As a group, research analysts predict that Kforce will post 3.02 earnings per share for the current year.

Kforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.37%. This is an increase from Kforce’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 14th. Kforce’s dividend payout ratio is presently 48.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Robert W. Baird upped their price target on shares of Kforce from $62.00 to $72.00 and gave the company an outperform rating in a report on Tuesday, February 6th. StockNews.com downgraded Kforce from a buy rating to a hold rating in a report on Tuesday, February 6th. Finally, Truist Financial boosted their price objective on Kforce from $57.00 to $70.00 and gave the stock a hold rating in a report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Kforce currently has an average rating of Hold and an average price target of $68.33.

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.