Kforce Inc. (NASDAQ:KFRC) to Issue $0.38 Quarterly Dividend

Kforce Inc. (NASDAQ:KFRC) announced a quarterly dividend on Wednesday, October 30th, Wall Street Journal reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.38 per share by the business services provider on Friday, December 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Friday, December 6th.

Kforce has a payout ratio of 43.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kforce to earn $3.13 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 48.6%.

Kforce Stock Up 3.1 %

NASDAQ KFRC opened at $58.81 on Thursday. The company has a 50 day moving average of $60.36 and a 200-day moving average of $62.36. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 21.86 and a beta of 0.87. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.22. Kforce has a 1-year low of $52.96 and a 1-year high of $74.79.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.06. Kforce had a net margin of 3.56% and a return on equity of 34.89%. The business had revenue of $353.30 million for the quarter, compared to analyst estimates of $352.19 million. During the same quarter last year, the business posted $0.90 EPS. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities research analysts expect that Kforce will post 2.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com raised shares of Kforce from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Truist Financial reduced their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.75.

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.