Strength Seen in Kforce (KFRC): Can Its 5% Jump Turn into More Strength?
Kforce (KFRC) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the s...
Kforce (KFRC) shares rallied 5% in the last trading session to close at $61.89. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.2% gain over the past four weeks.
Increased optimism over a booming staffing industry, driven by a surge in manufacturing and service activities, and a recovering economy primarily drove the stock that extended its rally for the third straight day.
This staffing company is expected to post quarterly earnings of $0.87 per share in its upcoming report, which represents a year-over-year change of -2.3%. Revenues are expected to be $387.74 million, up 6.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Kforce, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on KFRC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Kforce, Inc. (KFRC): Free Stock Analysis Report
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