$340.01 Million in Sales Expected for Kforce Inc. (KFRC) This Quarter

Analysts forecast that Kforce Inc. (NASDAQ:KFRC) will post $340.01 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Kforce’s earnings, with the highest sales estimate coming in at $340.98 million and the lowest estimate coming in at $339.04 million. Kforce posted sales of $326.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.3%. The company is scheduled to announce its next earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Kforce will report full-year sales of $340.01 million for the current financial year, with estimates ranging from $1.35 billion to $1.36 billion. For the next year, analysts expect that the firm will post sales of $1.41 billion per share, with estimates ranging from $1.39 billion to $1.42 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Kforce.

Kforce (NASDAQ:KFRC) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. Kforce had a return on equity of 29.21% and a net margin of 2.96%. The business had revenue of $341.05 million during the quarter, compared to analysts’ expectations of $340.67 million. During the same period in the previous year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year.

Several brokerages have weighed in on KFRC. Robert W. Baird reissued a “buy” rating and set a $20.00 price objective on shares of Kforce in a report on Tuesday, September 12th. ValuEngine raised Kforce from a “hold” rating to a “buy” rating in a report on Friday, October 27th. TheStreet raised Kforce from a “c+” rating to a “b” rating in a report on Monday, October 2nd. SunTrust Banks lowered Kforce from a “buy” rating to a “hold” rating and decreased their target price for the stock from $23.00 to $22.00 in a research report on Wednesday, October 11th. Finally, Zacks Investment Research lowered Kforce from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.20.

In other Kforce news, CFO David M. Kelly sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $24.05, for a total transaction of $360,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David L. Dunkel sold 17,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $23.90, for a total value of $406,300.00. The disclosure for this sale can be found here. Insiders sold a total of 67,950 shares of company stock valued at $1,687,295 over the last quarter. 13.30% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Kforce by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,067,198 shares of the business services provider’s stock valued at $40,517,000 after acquiring an additional 33,998 shares during the period. Dimensional Fund Advisors LP raised its stake in Kforce by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,435,611 shares of the business services provider’s stock valued at $28,138,000 after acquiring an additional 60,783 shares during the period. Macquarie Group Ltd. raised its stake in Kforce by 22.2% in the 3rd quarter. Macquarie Group Ltd. now owns 1,387,703 shares of the business services provider’s stock valued at $28,032,000 after acquiring an additional 251,643 shares during the period. Investment Counselors of Maryland LLC raised its stake in Kforce by 6.5% in the 3rd quarter. Investment Counselors of Maryland LLC now owns 1,070,029 shares of the business services provider’s stock valued at $21,615,000 after acquiring an additional 65,258 shares during the period. Finally, Deprince Race & Zollo Inc. raised its stake in Kforce by 4.4% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 747,427 shares of the business services provider’s stock valued at $15,098,000 after acquiring an additional 31,768 shares during the period. Institutional investors own 78.77% of the company’s stock.

Shares of Kforce (KFRC) opened at $26.05 on Tuesday. The firm has a market capitalization of $689.47, a PE ratio of 18.35 and a beta of 1.67. Kforce has a twelve month low of $16.75 and a twelve month high of $26.95. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.91.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.84%. Kforce’s dividend payout ratio is presently 33.80%.

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About Kforce

Kforce Inc (Kforce) is engaged in providing professional and technical specialty staffing services and solutions. The Company operates through three segments, which include Technology (Tech), Finance and Accounting (FA) and Government Solutions (GS). The Company’s Tech segment includes the operations of its subsidiary Kforce Global Solutions, Inc The FA segment is engaged in providing both temporary staffing and permanent placement services to its clients in areas, such as general accounting, business analysis and others.

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