Kforce Inc. (NASDAQ:KFRC) Expected to Post Earnings of $0.66 Per Share

Wall Street analysts forecast that Kforce Inc. (NASDAQ:KFRC) will report $0.66 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Kforce’s earnings. The lowest EPS estimate is $0.65 and the highest is $0.67. Kforce posted earnings of $0.65 per share in the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The business is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, July 31st.

According to Zacks, analysts expect that Kforce will report full-year earnings of $2.38 per share for the current financial year, with EPS estimates ranging from $2.37 to $2.38. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.84 per share, with EPS estimates ranging from $2.80 to $2.87. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Kforce.

Kforce (NASDAQ:KFRC) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). Kforce had a return on equity of 35.26% and a net margin of 5.41%. The firm had revenue of $326.70 million during the quarter, compared to analyst estimates of $329.80 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year.

Several brokerages have commented on KFRC. ValuEngine upgraded shares of YY from a “sell” rating to a “hold” rating in a report on Friday, June 7th. BidaskClub cut shares of Zions Bancorporation NA from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.00.

In related news, Director Gordon Tunstall sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $34.98, for a total transaction of $104,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Kelly sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.77, for a total transaction of $536,550.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,500 shares of company stock valued at $1,051,990. Corporate insiders own 11.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. raised its position in Kforce by 143.3% during the first quarter. Meeder Asset Management Inc. now owns 2,506 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 1,476 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Kforce by 12.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,654 shares of the business services provider’s stock valued at $113,000 after acquiring an additional 396 shares in the last quarter. Legal & General Group Plc raised its position in shares of Kforce by 19.6% in the fourth quarter. Legal & General Group Plc now owns 4,301 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 706 shares during the period. United Services Automobile Association raised its position in shares of Kforce by 11.4% in the fourth quarter. United Services Automobile Association now owns 6,601 shares of the business services provider’s stock valued at $204,000 after purchasing an additional 676 shares during the period. Finally, Qtron Investments LLC bought a new position in shares of Kforce in the first quarter valued at approximately $215,000. 82.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KFRC traded down $0.11 during midday trading on Monday, hitting $35.71. The stock had a trading volume of 75,131 shares, compared to its average volume of 113,849. Kforce has a fifty-two week low of $27.95 and a fifty-two week high of $43.51. The stock’s 50-day moving average price is $35.43. The company has a market capitalization of $910.56 million, a price-to-earnings ratio of 15.48 and a beta of 1.22. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.47.

About Kforce

Kforce Inc provides professional staffing services and solutions in the United States and internationally. It operates through Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS) segments. The Tech segment provides temporary staffing and permanent placement services to its clients primarily in the areas of information technology, such as systems/applications architecture and development, project management, enterprise data management, business intelligence, artificial intelligence, machine learning, network architecture, and security.

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