Kforce (NASDAQ:KFRC) Issues Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Kforce reported a quarterly earnings per share (EPS) of $0.59, missing analysts' expectations by $0.01, with a year-over-year revenue decline of 6.2%.
• The company declared a quarterly dividend of $0.39 per share, reflecting an annualized yield of 3.33%.
• Several analysts have downgraded Kforce's stock ratings, with Truist Financial lowering the target price from $58.00 to $50.00 while maintaining a "hold" rating.

Kforce (NASDAQ:KFRC - Get Free Report) announced its quarterly earnings results on Monday. The business services provider reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01), Briefing.com reports. Kforce had a net margin of 3.59% and a return on equity of 30.34%. The business's revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS.

Kforce Stock Performance

KFRC traded up $0.47 during trading on Monday, hitting $46.92. 390,795 shares of the company traded hands, compared to its average volume of 146,095. The firm has a market cap of $874.05 million, a P/E ratio of 17.51 and a beta of 0.75. The stock's fifty day moving average is $41.92 and its 200 day moving average is $46.14. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.16. Kforce has a one year low of $35.50 and a one year high of $71.48.

Kforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.39 per share. The ex-dividend date was Friday, June 13th. This represents a $1.56 annualized dividend and a yield of 3.33%. Kforce's payout ratio is currently 61.18%.

Wall Street Analysts Forecast Growth

KFRC has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Kforce from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. Truist Financial reduced their target price on shares of Kforce from $58.00 to $50.00 and set a "hold" rating for the company in a research note on Tuesday, April 15th. Finally, UBS Group upped their target price on shares of Kforce from $40.00 to $45.00 and gave the stock a "neutral" rating in a research note on Thursday.

Insiders Place Their Bets

In related news, Director David L. Dunkel purchased 1,000 shares of Kforce stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average price of $37.80 per share, for a total transaction of $37,800.00. Following the completion of the transaction, the director owned 517,329 shares in the company, valued at $19,555,036.20. This represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Kforce

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Kforce by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,841 shares of the business services provider's stock worth $530,000 after acquiring an additional 474 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Kforce by 9.7% in the first quarter. AQR Capital Management LLC now owns 22,785 shares of the business services provider's stock worth $1,114,000 after buying an additional 2,017 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Kforce by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 39,416 shares of the business services provider's stock worth $1,927,000 after buying an additional 2,159 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Kforce by 3.5% in the first quarter. Millennium Management LLC now owns 133,829 shares of the business services provider's stock worth $6,543,000 after buying an additional 4,511 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Kforce by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 251,712 shares of the business services provider's stock worth $12,306,000 after buying an additional 99,050 shares in the last quarter. Institutional investors own 92.77% of the company's stock.

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.

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