Kforce Inc. (NASDAQ:KFRC) to Issue Quarterly Dividend of $0.38

Kforce Inc. (NASDAQ:KFRC) announced a quarterly dividend on Monday, October 28th,Wall Street Journal reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.38 per share by the business services provider on Friday, December 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, December 6th.

Kforce has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kforce to earn $2.90 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 52.4%.

Kforce Price Performance

NASDAQ KFRC opened at $61.07 on Wednesday. The business’s fifty day moving average is $58.30 and its 200 day moving average is $61.58. Kforce has a fifty-two week low of $52.96 and a fifty-two week high of $74.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.06 and a current ratio of 2.06. The company has a market capitalization of $1.17 billion, a PE ratio of 21.06 and a beta of 0.88.

Kforce (NASDAQ:KFRC) last posted its quarterly earnings data on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The firm had revenue of $353.30 million for the quarter, compared to analysts’ expectations of $352.19 million. Kforce had a return on equity of 33.50% and a net margin of 3.86%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Sell-side analysts predict that Kforce will post 2.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Kforce from a “hold” rating to a “buy” rating in a research note on Saturday. Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, October 15th. Finally, Truist Financial lowered their price objective on Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a research report on Tuesday, October 29th.

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.