Kforce Inc. (NASDAQ:KFRC) to Post FY2023 Earnings of $3.58 Per Share, William Blair Forecasts

Kforce Inc. (NASDAQ:KFRC – Get Rating) – Research analysts at William Blair lifted their FY2023 earnings estimates for Kforce in a report issued on Tuesday, January 17th. William Blair analyst T. Mulrooney now expects that the business services provider will post earnings per share of $3.58 for the year, up from their prior forecast of $3.51. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Kforce’s current full-year earnings is $4.24 per share.

Kforce (NASDAQ:KFRC – Get Rating) last posted its quarterly earnings data on Monday, October 31st. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $437.62 million during the quarter, compared to analyst estimates of $432.42 million. Kforce had a net margin of 5.23% and a return on equity of 44.12%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share.

Separately, StockNews.com cut shares of Kforce from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 28th.

Kforce Stock Performance

Shares of KFRC stock opened at $55.30 on Friday. Kforce has a 52-week low of $49.35 and a 52-week high of $78.15. The stock has a market cap of $1.15 billion, a PE ratio of 12.86 and a beta of 0.93. The firm’s 50 day moving average price is $55.83 and its two-hundred day moving average price is $58.31.

Kforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 23rd. Shareholders of record on Friday, December 9th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $1.20 annualized dividend and a yield of 2.17%. Kforce’s payout ratio is currently 27.91%.

Institutional Investors Weigh In On Kforce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Personal Financial Services acquired a new position in shares of Kforce during the 3rd quarter worth about $32,000. First Horizon Advisors Inc. acquired a new position in shares of Kforce during the 2nd quarter worth about $45,000. Quantbot Technologies LP increased its stake in shares of Kforce by 83.3% during the 2nd quarter. Quantbot Technologies LP now owns 1,100 shares of the business services provider’s stock worth $67,000 after purchasing an additional 500 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Kforce by 30.5% during the 3rd quarter. IFP Advisors Inc now owns 1,418 shares of the business services provider’s stock worth $82,000 after purchasing an additional 331 shares during the last quarter. Finally, EMC Capital Management increased its stake in shares of Kforce by 50.9% during the 2nd quarter. EMC Capital Management now owns 1,676 shares of the business services provider’s stock worth $103,000 after purchasing an additional 565 shares during the last quarter. 88.09% of the stock is currently owned by institutional investors and hedge funds.

About Kforce

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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.