Kforce (NASDAQ:KFRC) Announces Quarterly Earnings Results

Key Points

• Kforce reported quarterly EPS of $0.90, exceeding analysts’ consensus estimate of $0.76 and rising from $0.63 in the year-earlier period. Revenue increased 7.6% year over year.
• Kforce shares traded at $58.50, near their 52-week high of $61.68, with a market capitalization of approximately $1.05 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $60.67; recent targets ranged from $59 to $63.

Kforce (NASDAQ:KFRC - Get Free Report) released its earnings results on Monday. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.14, Briefing.com reports. Kforce had a return on equity of 30.34% and a net margin of 3.59%. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share.

Kforce Stock Performance

Shares of NASDAQ KFRC traded down $0.00 during mid-day trading on Monday, hitting $58.50. The company had a trading volume of 497,175 shares, compared to its average volume of 249,534. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 21.83 and a beta of 0.90. Kforce has a 1 year low of $24.49 and a 1 year high of $61.68. 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's 50-day moving average price is $53.38 and its 200-day moving average price is $49.09.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KFRC shares. Truist Financial increased their price target on Kforce from $38.00 to $60.00 and gave the stock a "hold" rating in a research note on Wednesday, July 22nd. Robert W. Baird lifted their price objective on Kforce from $42.00 to $63.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. UBS Group set a $59.00 price objective on Kforce in a research note on Tuesday, July 28th. Finally, Zacks Research downgraded shares of Kforce from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Kforce currently has a consensus rating of "Hold" and an average target price of $60.67.

• Kforce NASDAQ: KFRC Stock is a Workforce Recovery Play

Kforce Company Profile

Kforce Inc is a professional staffing and business solutions firm that connects organizations with skilled workers and provides services designed to support workforce and project needs. The company primarily operates through its Technology and Finance & Accounting segments.

Kforce Technology provides staffing, consulting, and project-based solutions for areas such as application development, data management, cloud computing, cybersecurity, and other information technology functions.

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