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 (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.02, Briefing.com reports. Kforce had a net margin of 3.56% and a return on equity of 34.84%. The business had revenue of $356.32 million for the quarter, compared to analysts’ expectations of $356.20 million. During the same quarter in the prior year, the company earned $0.95 earnings per share. The business’s quarterly 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 Stock Performance

Shares of KFRC stock traded down $0.68 during mid-day trading on Wednesday, hitting $69.54. 17,914 shares of the stock were exchanged, compared to its average volume of 97,985. The stock’s fifty day simple moving average is $62.92 and its two-hundred day simple moving average is $65.81. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.32 and a current ratio of 2.32. Kforce has a 12-month low of $53.75 and a 12-month high of $74.79. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 24.49 and a beta of 0.89.

Insider Buying and Selling

In related news, insider Andrew G. Thomas sold 4,801 shares of the business’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 transaction, the insider now owns 94,095 shares in the company, valued at approximately $5,780,255.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 value of $308,500.00. Following the sale, the director now owns 26,297 shares of the company’s stock, valued at $1,622,524.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew G. Thomas sold 4,801 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were 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 of the company’s stock, valued at $5,780,255.85. The disclosure for this sale can be found here. Insiders sold a total of 16,439 shares of company stock worth $1,015,114 in the last 90 days. Company insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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