William Blair Has Negative Forecast for Kforce Q4 Earnings

Kforce Inc. (NASDAQ:KFRC) – Research analysts at William Blair lowered their Q4 2024 earnings estimates for Kforce in a report released on Tuesday, October 29th. William Blair analyst T. Romeo now forecasts that the business services provider will post earnings per share of $0.60 for the quarter, down from their previous estimate of $0.61. The consensus estimate for Kforce’s current full-year earnings is $2.70 per share. William Blair also issued estimates for Kforce’s Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.73 EPS, Q4 2025 earnings at $0.73 EPS, FY2025 earnings at $2.77 EPS and FY2026 earnings at $3.36 EPS.

Kforce (NASDAQ:KFRC) last announced its quarterly earnings results on Monday, October 28th. The business services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $353.30 million for the quarter, compared to analyst estimates of $352.19 million. Kforce had a net margin of 3.56% and a return on equity of 34.89%. Kforce’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.90 EPS.

KFRC has been the topic of several other research reports. Truist Financial cut their price target on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Kforce from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Sidoti upgraded Kforce from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.75.

Kforce Stock Performance

Kforce stock opened at $58.81 on Wednesday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 21.86 and a beta of 0.87. Kforce has a 12 month low of $52.96 and a 12 month high of $74.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.33 and a quick ratio of 2.33. The stock’s 50-day moving average is $60.36 and its 200-day moving average is $62.36.

Kforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, December 6th. Kforce’s dividend payout ratio (DPR) is 56.51%.

Hedge Funds Weigh In On Kforce

Several institutional investors and hedge funds have recently made changes to their positions in KFRC. Janney Montgomery Scott LLC grew its stake in Kforce by 2.5% in the third quarter. Janney Montgomery Scott LLC now owns 33,815 shares of the business services provider’s stock worth $2,078,000 after purchasing an additional 821 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Kforce by 10.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,722 shares of the business services provider’s stock worth $660,000 after purchasing an additional 1,043 shares during the last quarter. Raymond James & Associates lifted its stake in Kforce by 3.8% during the third quarter. Raymond James & Associates now owns 98,253 shares of the business services provider’s stock worth $6,038,000 after purchasing an additional 3,560 shares during the last quarter. Blue Trust Inc. boosted its holdings in Kforce by 259.5% in the third quarter. Blue Trust Inc. now owns 1,535 shares of the business services provider’s stock worth $95,000 after purchasing an additional 1,108 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Kforce during the third quarter valued at $30,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

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.