© Reuters.
On Thursday, UBS maintained its neutral recommendation for professional staffing services firm Kforce (NASDAQ:), setting a one-year price target at $64.77, an upside of 8.08% from the closing price of $59.93. With projected annual revenue for Kforce at $1,696 million, marking a growth of 2.63%, and the non-GAAP EPS estimated at $4.00, the outlook appears steady.
InvestingPro data reveals that Kforce has a market cap of 1130M USD and a P/E Ratio of 18.1. The company’s revenue stands at 1652.47M USD, reflecting a revenue growth of -0.85% in the last twelve months up to Q2 2023. The company’s gross profit for the same period was 470.39M USD, making up 28.47% of the revenue.
Despite a decrease of three owners from the last quarter, total institutional ownership has risen by 0.80% to 22,366K shares. The put/call ratio of KFRC is at a bearish level of 3.37.
Kayne Anderson Rudnick Investment Management holds the largest stake in Kforce with 2,514K shares or a 13.09% ownership stake, having increased its portfolio allocation in KFRC by 71.96%. Fidelity Small Cap Discovery (NASDAQ:) Fund holds 736K shares and has increased its portfolio allocation in KFRC by 6.03%.
Charles Schwab (NYSE:) Investment Management, owning 605K shares, decreased its portfolio allocation in KFRC by 0.74%. Vaughan Nelson Investment Management also reduced its exposure to Kforce, owning 596K shares but decreasing its portfolio allocation by 6.93%.
Kforce announced a quarterly dividend of $0.36 per share ($1.44 annualized) on July 31, 2023, yielding 2.40%. The dividend payout ratio is 0.43, suggesting that nearly half of the company’s earnings are paid out as dividends. The firm has a three-year dividend growth rate of 0.80%, and the standard deviation of the dividend yield is 0.39, with a historical average yield of 2.05%.
InvestingPro Tips reveal that Kforce has maintained dividend payments for 12 consecutive years and has raised its dividend for 5 consecutive years. The company’s management has been aggressively buying back shares, which is a positive sign for investors. These tips, along with many more, are available to subscribers of InvestingPro, a valuable resource for investors. For more information, visit InvestingPro.
Kforce Inc., specializing in the Technology and Finance and Accounting sectors, serves over 3,000 clients, including a significant majority of the Fortune 500. This wide-ranging clientele base signifies a robust business model capable of attracting and retaining high-profile customers. The company operates with a high return on assets, as indicated by the 15.83% return on assets in the last twelve months up to Q2 2023, according to InvestingPro data.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here