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 earnings per share guidance of 0.650-0.730 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

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

Kforce Stock Down 1.2 %

NASDAQ:KFRC traded down $0.81 during trading hours on Monday, reaching $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 cap of $1.32 billion, a price-to-earnings ratio of 23.62 and a beta of 0.89. The business’s 50-day simple moving average is $62.67 and its two-hundred day simple moving average is $65.74. 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 has a twelve month low of $53.75 and a twelve month high of $74.79.

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

Insiders Place Their Bets

In related news, insider Andrew G. Thomas sold 4,801 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $61.43, for a total value of $294,925.43. Following the transaction, the insider now owns 94,095 shares of the company’s stock, valued at approximately $5,780,255.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Kforce news, CEO Joseph J. Liberatore sold 6,638 shares of Kforce stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $62.02, for a total transaction of $411,688.76. Following the transaction, the chief executive officer now directly owns 213,689 shares of the company’s stock, valued at approximately $13,252,991.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew G. Thomas sold 4,801 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was 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 approximately $5,780,255.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,439 shares of company stock worth $1,015,114. 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.