Kforce Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of technical staffing specialist Kforce (NAS: KFRC) rose more than 14% after management reported third-quarter results that met raised estimates.
So what: In August, Kforce told analysts to expect better Q3 results than previously forecasted. Instead of $0.17 to $0.19 in per-share earnings on $276 million to $283 million in revenue, CEO David Dunkel said Kforce would come in closer to $0.22 a share on $289 million in revenue. Both predictions proved accurate.
Now what: What makes the revision interesting is that it followed on the heels of a lousy Q2 report that started a massive selling spree. Those who took my Foolish colleague Rich Smith's advice to buy on the weakness were handsomely rewarded today. Were you one of the fortunate ones? Would you buy shares of Kforce at current prices? Please weigh in using the comments box below.
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At the time this article was published Fool contributorTim Beyersis a member of theMotley Fool Rule Breakersstock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim'sportfolio holdingsandFoolish writings, or connect with him onGoogle+or Twitter, where he goes by@milehighfool. You can also get his insightsdelivered directly to your RSS reader.Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.