Kforce (NASDAQ:KFRC) Updates Q3 2024 Earnings Guidance

Kforce (NASDAQ:KFRC) updated its third quarter 2024 earnings guidance on Monday. 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 Stock Performance

NASDAQ KFRC traded down $0.81 on Monday, hitting $67.60. 77,706 shares of the company’s stock traded hands, compared to its average volume of 97,720. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $62.67 and its two-hundred day moving average price is $65.74. Kforce has a 1-year low of $53.75 and a 1-year high of $74.79. The firm has a market capitalization of $1.32 billion, a PE ratio of 23.62 and a beta of 0.89.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other Kforce news, Director Mark F. Furlong sold 5,000 shares of the business’s 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 sale, the director now directly owns 26,297 shares in the company, valued at approximately $1,622,524.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Kforce news, Director Mark F. Furlong sold 5,000 shares of Kforce stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $61.70, for a total transaction of $308,500.00. Following the sale, the director now owns 26,297 shares of the company’s stock, valued at approximately $1,622,524.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew G. Thomas sold 4,801 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total transaction of $294,925.43. Following the completion of the sale, the insider now owns 94,095 shares of the company’s stock, valued at $5,780,255.85. The disclosure for this sale can be found here. Insiders have sold a total of 16,439 shares of company stock worth $1,015,114 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

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.