Kforce (NASDAQ:KFRC) Issues Q3 2024 Earnings Guidance

Kforce (NASDAQ:KFRC) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.650-0.730 for the period, compared to the consensus EPS 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 Trading Down 1.2 %

KFRC stock traded down $0.81 during trading on Monday, hitting $67.60. The company had a trading volume of 77,706 shares, compared to its average volume of 97,720. The firm has a market capitalization of $1.32 billion, a P/E ratio of 23.39 and a beta of 0.89. Kforce has a 52-week low of $53.75 and a 52-week high of $74.79. The company has a 50 day simple moving average of $62.75 and a 200-day simple moving average of $65.77. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.25.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings results on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The company had revenue of $351.89 million for the quarter, compared to the consensus estimate of $354.92 million. Kforce had a net margin of 3.78% and a return on equity of 36.39%. The firm’s revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 EPS. As a group, research analysts forecast that Kforce will post 2.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Kforce

In other news, CEO Joseph J. Liberatore sold 6,638 shares of Kforce stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $62.02, for a total value of $411,688.76. Following the transaction, the chief executive officer now owns 213,689 shares of the company’s stock, valued at approximately $13,252,991.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Joseph J. Liberatore sold 6,638 shares of Kforce stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $62.02, for a total value of $411,688.76. Following the transaction, the chief executive officer now owns 213,689 shares of the company’s stock, valued at approximately $13,252,991.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mark F. Furlong sold 5,000 shares of Kforce stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $61.70, for a total transaction of $308,500.00. Following the completion of the transaction, the director now directly owns 26,297 shares in the company, valued at approximately $1,622,524.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,439 shares of company stock valued at $1,015,114. Company 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.