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DOW   35,911.81 (-0.56%)
S&P 500   4,662.85 (+0.08%)
DOW   35,911.81 (-0.56%)
S&P 500   4,662.85 (+0.08%)
DOW   35,911.81 (-0.56%)

Brokerages Expect Kforce Inc. (NASDAQ:KFRC) Will Announce Quarterly Sales of $397.54 Million

Last updated on Sunday, January 16, 2022 | 2022 MarketBeat

Brokerages expect Kforce Inc. (NASDAQ:KFRC) to post $397.54 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kforce's earnings, with the highest sales estimate coming in at $398.08 million and the lowest estimate coming in at $397.00 million. Kforce posted sales of $354.05 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.3%. The company is scheduled to report its next earnings report after the market closes on Monday, February 7th.

On average, analysts expect that Kforce will report full-year sales of $1.57 billion for the current year. For the next year, analysts expect that the business will report sales of $1.62 billion, with estimates ranging from $1.62 billion to $1.63 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Kforce.

Kforce (NASDAQ:KFRC) last released its earnings results on Sunday, October 31st. The business services provider reported $0.96 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.88 by $0.08. The firm had revenue of $402.80 million for the quarter, compared to the consensus estimate of $388.32 million. Kforce had a net margin of 4.78% and a return on equity of 39.79%. The company's revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS.

A number of research firms recently weighed in on KFRC. Zacks Investment Research lowered shares of Kforce from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 5th. Truist lifted their target price on Kforce from $62.00 to $70.00 and gave the company a "hold" rating in a research note on Wednesday, November 3rd. Robert W. Baird boosted their price target on Kforce from $68.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 2nd. Finally, Truist Securities boosted their price target on Kforce from $62.00 to $70.00 and gave the stock a "hold" rating in a research note on Wednesday, November 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Kforce presently has an average rating of "Hold" and an average target price of $69.40.

NASDAQ KFRC opened at $72.44 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.53. Kforce has a 12 month low of $42.19 and a 12 month high of $81.47. The company's 50 day moving average is $75.22 and its two-hundred day moving average is $66.50. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 21.06 and a beta of 1.14.

The business also recently announced a quarterly dividend, which was paid on Friday, December 24th. Shareholders of record on Friday, December 10th were paid a $0.26 dividend. The ex-dividend date was Thursday, December 9th. This represents a $1.04 annualized dividend and a dividend yield of 1.44%. Kforce's dividend payout ratio (DPR) is currently 30.23%.

In other news, CEO David L. Dunkel sold 4,889 shares of the company's stock in a transaction dated Thursday, November 4th. The stock was sold at an average price of $71.00, for a total value of $347,119.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joseph J. Liberatore sold 34,000 shares of the business's stock in a transaction dated Tuesday, December 28th. The stock was sold at an average price of $76.41, for a total value of $2,597,940.00. The disclosure for this sale can be found here. 7.10% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in Kforce by 456.1% during the 4th quarter. IFP Advisors Inc now owns 367 shares of the business services provider's stock valued at $30,000 after purchasing an additional 301 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Kforce in the second quarter valued at $50,000. Koshinski Asset Management Inc. lifted its holdings in shares of Kforce by 134.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 938 shares of the business services provider's stock valued at $71,000 after purchasing an additional 538 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Kforce by 26.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,770 shares of the business services provider's stock worth $111,000 after acquiring an additional 370 shares in the last quarter. Finally, Heritage Wealth Management LLC raised its holdings in shares of Kforce by 42.8% during the second quarter. Heritage Wealth Management LLC now owns 1,772 shares of the business services provider's stock worth $111,000 after acquiring an additional 531 shares in the last quarter. Institutional investors and hedge funds own 84.75% of the company's stock.

About Kforce

Kforce, Inc engages in the provision of professional and technical staffing services and solutions. It operates through the Technology and Finance and Accounting (FA) segments. The Technology segment offers services on areas of information technology such as systems and applications architecture and development, data management, business and artificial intelligence, machine learning, and network architecture and security.

See Also: Treasury Bonds

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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