Kforce (NASDAQ:KFRC) Updates Q3 2024 Earnings Guidance

Kforce (NASDAQ:KFRC) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.650-0.730 for the period, compared to the consensus earnings per share estimate of 0.790. The company issued revenue guidance of $347.0 million-$355.0 million, compared to the consensus revenue estimate of $363.6 million. Kforce also updated its Q3 guidance to $0.65-0.73 EPS.

Kforce Price Performance

NASDAQ:KFRC traded up $1.07 on Tuesday, reaching $68.67. The stock had a trading volume of 40,890 shares, compared to its average volume of 97,328. The company has a market capitalization of $1.34 billion, a P/E ratio of 23.39 and a beta of 0.89. Kforce has a 1-year low of $53.75 and a 1-year high of $74.79. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $62.75 and a 200-day moving average price of $65.77.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, July 29th. The business services provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. The firm had revenue of $356.32 million for the quarter, compared to analyst estimates of $356.20 million. Kforce had a net margin of 3.78% and a return on equity of 36.39%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. Research analysts forecast that Kforce will post 2.82 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped their price target on shares of Kforce from $72.00 to $71.00 and set an outperform rating for the company in a research note on Tuesday, April 30th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $68.00.

Insider Transactions at Kforce

In other news, insider Andrew G. Thomas sold 4,801 shares of the stock in a transaction on 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 sale, the insider now owns 94,095 shares of the company’s stock, valued at $5,780,255.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Andrew G. Thomas sold 4,801 shares of the stock in a transaction on 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 sale, the insider now owns 94,095 shares of the company’s stock, valued at $5,780,255.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph J. Liberatore sold 6,638 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $62.02, for a total transaction of $411,688.76. Following the sale, the chief executive officer now directly owns 213,689 shares of the company’s stock, valued at approximately $13,252,991.78. The disclosure for this sale can be found here. Insiders sold 16,439 shares of company stock valued at $1,015,114 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

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.