Equities research analysts expect Kforce Inc. (NASDAQ:KFRC) to post $340.36 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Kforce’s earnings. The highest sales estimate is $342.60 million and the lowest is $338.09 million. Kforce posted sales of $355.45 million during the same quarter last year, which would indicate a negative year over year growth rate of 4.2%. The company is expected to issue its next earnings results before the market opens on Wednesday, October 30th.
According to Zacks, analysts expect that Kforce will report full-year sales of $1.35 billion for the current year, with estimates ranging from $1.34 billion to $1.35 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.40 billion, with estimates ranging from $1.39 billion to $1.42 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Kforce.
Kforce (NASDAQ:KFRC) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.66 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $338.86 million for the quarter, compared to analysts’ expectations of $345.81 million. Kforce had a net margin of 9.73% and a return on equity of 32.02%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share.
Several analysts have weighed in on KFRC shares. William Blair reaffirmed an “outperform” rating on shares of Kforce in a research note on Friday, September 20th. BidaskClub raised shares of Kforce from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Zacks Investment Research cut shares of Kforce from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd.
Kforce stock traded up $0.73 during trading hours on Wednesday, hitting $38.46. 122,491 shares of the stock were exchanged, compared to its average volume of 122,109. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.34 and a current ratio of 3.34. The stock has a market capitalization of $917.57 million, a P/E ratio of 16.72 and a beta of 1.24. Kforce has a 12 month low of $27.95 and a 12 month high of $39.14. The business’s 50-day moving average is $35.37 and its two-hundred day moving average is $35.42.
In other news, CFO David M. Kelly sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.81, for a total transaction of $164,050.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Kye L. Mitchell sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $32.74, for a total transaction of $130,960.00. The disclosure for this sale can be found here. Insiders have sold 9,803 shares of company stock worth $323,440 over the last three months. 11.80% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KFRC. Cutler Group LP lifted its holdings in Kforce by 200.0% in the second quarter. Cutler Group LP now owns 2,400 shares of the business services provider’s stock valued at $84,000 after buying an additional 1,600 shares during the period. A.R.T. Advisors LLC raised its holdings in Kforce by 9.7% in the second quarter. A.R.T. Advisors LLC now owns 7,943 shares of the business services provider’s stock worth $279,000 after purchasing an additional 700 shares during the period. Zebra Capital Management LLC raised its holdings in Kforce by 12.1% in the second quarter. Zebra Capital Management LLC now owns 8,540 shares of the business services provider’s stock worth $300,000 after purchasing an additional 922 shares during the period. Cubist Systematic Strategies LLC raised its holdings in Kforce by 4.4% in the second quarter. Cubist Systematic Strategies LLC now owns 9,323 shares of the business services provider’s stock worth $327,000 after purchasing an additional 391 shares during the period. Finally, First Hawaiian Bank raised its holdings in Kforce by 24.1% in the second quarter. First Hawaiian Bank now owns 11,960 shares of the business services provider’s stock worth $420,000 after purchasing an additional 2,320 shares during the period. 83.52% of the stock is currently owned by institutional investors and hedge funds.
Kforce Company Profile
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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