Kforce (NASDAQ:KFRC) Updates Q3 Earnings Guidance

Kforce (NASDAQ:KFRC) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.65-0.73 for the period, compared to the consensus earnings per share estimate of $0.79. The company issued revenue guidance of $347-355 million, compared to the consensus revenue estimate of $363.59 million.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their price objective on Kforce from $72.00 to $71.00 and set an outperform rating on the stock in a research report on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Kforce currently has a consensus rating of Hold and a consensus target price of $68.00.

Kforce Price Performance

Shares of KFRC stock traded down $0.81 on Monday, reaching $67.60. The company’s stock had a trading volume of 77,706 shares, compared to its average volume of 97,720. The stock’s 50 day simple moving average is $62.67 and its 200-day simple moving average is $65.74. Kforce has a 12-month low of $53.75 and a 12-month high of $74.79. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.32 billion, a P/E ratio of 23.62 and a beta of 0.89.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The firm had revenue of $351.89 million for the quarter, compared to the consensus estimate of $354.92 million. Kforce had a return on equity of 36.39% and a net margin of 3.78%. The company’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. As a group, equities analysts predict that Kforce will post 2.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Joseph J. Liberatore sold 6,638 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $62.02, for a total value of $411,688.76. Following the sale, the chief executive officer now directly owns 213,689 shares of the company’s stock, valued at $13,252,991.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Joseph J. Liberatore sold 6,638 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $62.02, for a total value of $411,688.76. Following the sale, the chief executive officer now directly owns 213,689 shares of the company’s stock, valued at $13,252,991.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew G. Thomas sold 4,801 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $61.43, for a total value of $294,925.43. Following the completion of the sale, the insider now directly owns 94,095 shares in the company, valued at $5,780,255.85. The disclosure for this sale can be found here. Insiders have sold 16,439 shares of company stock valued at $1,015,114 over the last ninety days. 5.50% of the stock is owned by insiders.

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.