$341.03 Million in Sales Expected for Kforce, Inc. (KFRC) This Quarter
Wall Street analysts expect Kforce, Inc. (NASDAQ:KFRC) to post $341.03 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Kforce’s earnings, with the highest sales estimate coming in at $342.36 million and the lowest estimate coming in at $339.99 million. Kforce posted sales of $336.46 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The firm is expected to announce its next earnings report after the market closes on Tuesday, October 31st.
On average, analysts expect that Kforce will report full year sales of $341.03 million for the current year, with estimates ranging from $1.34 billion to $1.36 billion. For the next financial year, analysts expect that the company will report sales of $1.40 billion per share, with estimates ranging from $1.38 billion to $1.43 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Kforce.
Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.02). Kforce had a net margin of 2.64% and a return on equity of 29.67%. The business had revenue of $340.31 million during the quarter, compared to analysts’ expectations of $345.24 million. During the same quarter in the prior year, the firm earned $0.41 EPS. Kforce’s revenue for the quarter was up 1.6% on a year-over-year basis.
A number of brokerages recently commented on KFRC. Zacks Investment Research downgraded shares of Kforce from a “hold” rating to a “sell” rating in a research report on Saturday. ValuEngine upgraded shares of Kforce from a “hold” rating to a “buy” rating in a research report on Friday. SunTrust Banks, Inc. downgraded shares of Kforce from a “buy” rating to a “hold” rating and reduced their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 11th. TheStreet upgraded shares of Kforce from a “c+” rating to a “b” rating in a research report on Monday, October 2nd. Finally, Robert W. Baird restated a “buy” rating and issued a $20.00 price objective on shares of Kforce in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $23.20.
Kforce (NASDAQ KFRC) opened at 20.20 on Tuesday. Kforce has a 52 week low of $15.95 and a 52 week high of $26.95. The stock has a market cap of $510.86 million, a price-to-earnings ratio of 14.72 and a beta of 1.58. The company has a 50 day moving average price of $19.65 and a 200 day moving average price of $19.27.
In other Kforce news, COO Kye L. Mitchell sold 5,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $17.99, for a total value of $89,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of KFRC. BNP Paribas Arbitrage SA increased its holdings in Kforce by 612.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,340 shares of the business services provider’s stock valued at $105,000 after buying an additional 4,590 shares in the last quarter. FNY Managed Accounts LLC increased its holdings in Kforce by 117.8% in the second quarter. FNY Managed Accounts LLC now owns 5,445 shares of the business services provider’s stock valued at $106,000 after buying an additional 2,945 shares in the last quarter. Aperio Group LLC purchased a new position in Kforce in the third quarter valued at about $216,000. Dubuque Bank & Trust Co. increased its holdings in Kforce by 22.7% in the second quarter. Dubuque Bank & Trust Co. now owns 11,665 shares of the business services provider’s stock valued at $229,000 after buying an additional 2,158 shares in the last quarter. Finally, AXA purchased a new position in Kforce in the second quarter valued at about $261,000. 78.54% of the stock is owned by institutional investors.
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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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