Kforce Inc. (NASDAQ:KFRC) Plans Dividend Increase – $0.39 Per Share

Kforce Inc. (NASDAQ:KFRC) announced a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.39 per share by the business services provider on Friday, March 21st. This represents a $1.56 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Kforce’s previous quarterly dividend of $0.38.

Kforce has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kforce to earn $2.90 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 52.4%.

Kforce Price Performance

Shares of NASDAQ:KFRC traded up $0.53 during trading on Tuesday, reaching $54.28. The stock had a trading volume of 183,309 shares, compared to its average volume of 98,060. The stock has a market capitalization of $1.04 billion, a PE ratio of 18.72 and a beta of 0.88. Kforce has a 52 week low of $52.96 and a 52 week high of $74.79. The business’s 50-day moving average price is $57.38 and its 200 day moving average price is $60.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.06 and a quick ratio of 2.06.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KFRC. StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. Truist Financial decreased their price objective on shares of Kforce from $68.00 to $58.00 and set a “hold” rating on the stock in a report on Tuesday, October 29th. Finally, Sidoti raised shares of Kforce from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, October 15th.

Kforce Company Profile

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.