Kforce (NASDAQ:KFRC) Releases Q2 2024 Earnings Guidance

Kforce (NASDAQ:KFRC) updated its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.680-0.760 for the period, compared to the consensus estimate of 0.760. The company issued revenue guidance of $352.0 million-$360.0 million, compared to the consensus revenue estimate of $363.9 million. Kforce also updated its Q2 guidance to $0.68-0.76 EPS.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KFRC shares. Robert W. Baird raised their price objective on Kforce from $62.00 to $72.00 and gave the stock an outperform rating in a report on Tuesday, February 6th. Truist Financial raised their price target on Kforce from $57.00 to $70.00 and gave the stock a hold rating in a research note on Thursday, January 25th. Finally, StockNews.com cut Kforce from a buy rating to a hold rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $68.33.

Kforce Stock Performance

KFRC traded up $0.10 on Monday, hitting $64.23. 70,403 shares of the company traded hands, compared to its average volume of 106,374. Kforce has a 12-month low of $50.89 and a 12-month high of $74.79. The company has a 50 day moving average of $68.19 and a 200-day moving average of $66.45. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.25 billion, a PE ratio of 20.66 and a beta of 0.85.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Monday, February 5th. The business services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03. Kforce had a return on equity of 38.24% and a net margin of 3.99%. The business had revenue of $363.45 million during the quarter, compared to analysts’ expectations of $363.29 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. Sell-side analysts anticipate that Kforce will post 3.02 earnings per share for the current year.

Kforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.38 dividend. This is an increase from Kforce’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.37%. Kforce’s payout ratio is presently 48.56%.

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.