SunTrust Banks Analysts Increase Earnings Estimates for Kforce Inc. (KFRC)
Kforce Inc. (NASDAQ:KFRC) – Equities researchers at SunTrust Banks raised their Q2 2018 EPS estimates for Kforce in a report released on Wednesday. SunTrust Banks analyst T. Sommer now anticipates that the business services provider will post earnings of $0.61 per share for the quarter, up from their prior estimate of $0.51. SunTrust Banks currently has a “Hold” rating and a $22.00 target price on the stock. SunTrust Banks also issued estimates for Kforce’s FY2018 earnings at $2.09 EPS and FY2019 earnings at $2.39 EPS.
Kforce (NASDAQ:KFRC) last announced its earnings results on Tuesday, October 31st. The business services provider reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. Kforce had a net margin of 2.71% and a return on equity of 28.83%. The firm had revenue of $341.05 million for the quarter, compared to analyst estimates of $340.67 million. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was up .2% compared to the same quarter last year.
Shares of Kforce (NASDAQ:KFRC) traded down $0.25 during trading hours on Friday, hitting $25.55. 4,099 shares of the company’s stock were exchanged, compared to its average volume of 79,565. Kforce has a 1 year low of $16.75 and a 1 year high of $27.30. The firm has a market cap of $686.83 and a price-to-earnings ratio of 17.53. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.95 and a current ratio of 2.95.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. boosted its position in Kforce by 6.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 234,369 shares of the business services provider’s stock valued at $4,594,000 after buying an additional 13,533 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Kforce by 109.0% in the second quarter. JPMorgan Chase & Co. now owns 204,768 shares of the business services provider’s stock valued at $4,014,000 after buying an additional 106,810 shares in the last quarter. Wells Fargo & Company MN boosted its position in Kforce by 13.1% in the second quarter. Wells Fargo & Company MN now owns 57,251 shares of the business services provider’s stock valued at $1,122,000 after buying an additional 6,632 shares in the last quarter. Nationwide Fund Advisors boosted its position in Kforce by 207.2% in the second quarter. Nationwide Fund Advisors now owns 43,807 shares of the business services provider’s stock valued at $859,000 after buying an additional 29,545 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Kforce by 0.4% in the second quarter. Northern Trust Corp now owns 623,772 shares of the business services provider’s stock valued at $12,226,000 after buying an additional 2,227 shares in the last quarter. Institutional investors and hedge funds own 78.93% of the company’s stock.
In related news, Director Ralph Struzziero sold 4,500 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $25.85, for a total transaction of $116,325.00. Following the sale, the director now owns 50,764 shares in the company, valued at approximately $1,312,249.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David L. Dunkel sold 6,271 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $27.00, for a total transaction of $169,317.00. The disclosure for this sale can be found here. Insiders have sold a total of 99,437 shares of company stock worth $2,553,327 in the last quarter. 13.30% of the stock is currently owned by company insiders.
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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