Kforce Inc. (NASDAQ:KFRC) Increases Dividend to $0.39 Per Share

Kforce Inc. (NASDAQ:KFRC) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Stockholders of record on Friday, March 7th will be given a dividend of 0.39 per share by the business services provider on Friday, March 21st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, March 7th. This is a positive change from Kforce’s previous quarterly dividend of $0.38.

Kforce has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kforce to earn $2.90 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 52.4%.

Kforce Price Performance

Shares of NASDAQ KFRC traded down $0.40 during mid-day trading on Wednesday, reaching $53.90. The company had a trading volume of 2,001 shares, compared to its average volume of 93,867. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.03 billion, a PE ratio of 18.61 and a beta of 0.88. The company has a 50-day moving average price of $57.26 and a two-hundred day moving average price of $59.94. Kforce has a 1-year low of $52.96 and a 1-year high of $74.79.

Analysts Set New Price Targets

Several research firms recently weighed in on KFRC. StockNews.com raised Kforce from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, October 15th. Finally, Truist Financial lowered their price target on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research note on Tuesday, October 29th.

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.