Kforce (NASDAQ:KFRC) Announces Earnings Results

Kforce (NASDAQ:KFRC) issued its quarterly earnings results on Monday. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02, Briefing.com reports. Kforce had a net margin of 3.78% and a return on equity of 36.39%. The firm had revenue of $356.32 million during the quarter, compared to the consensus estimate of $356.20 million. During the same period in the prior year, the firm earned $0.95 EPS. The business’s revenue was down 8.4% on a year-over-year basis. Kforce updated its Q3 guidance to $0.65-0.73 EPS and its Q3 2024 guidance to 0.650-0.730 EPS.

Kforce Price Performance

Shares of NASDAQ:KFRC traded down $0.33 during midday trading on Tuesday, reaching $67.27. 13,351 shares of the company’s stock were exchanged, compared to its average volume of 97,138. Kforce has a 12 month low of $53.75 and a 12 month high of $74.79. The firm has a market capitalization of $1.31 billion, a PE ratio of 23.39 and a beta of 0.89. The company’s 50 day simple moving average is $62.75 and its two-hundred day simple moving average is $65.77. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.32 and a current ratio of 2.32.

Insider Activity at Kforce

In related news, Director Mark F. Furlong sold 5,000 shares of Kforce stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $61.70, for a total transaction of $308,500.00. Following the completion of the transaction, the director now directly owns 26,297 shares of the company’s stock, valued at approximately $1,622,524.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Andrew G. Thomas sold 4,801 shares of Kforce stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total transaction of $294,925.43. Following the completion of the transaction, the insider now directly owns 94,095 shares of the company’s stock, valued at approximately $5,780,255.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark F. Furlong sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $61.70, for a total transaction of $308,500.00. Following the completion of the sale, the director now owns 26,297 shares of the company’s stock, valued at approximately $1,622,524.90. The disclosure for this sale can be found here. Insiders sold 16,439 shares of company stock valued at $1,015,114 in the last ninety days. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price objective on shares of Kforce from $72.00 to $71.00 and set an “outperform” rating for the company in a report on Tuesday, April 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.00.

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.