Korn Ferry (NYSE:KFY) Issues Quarterly Earnings Results

Korn Ferry (NYSE:KFYGet Rating) posted its quarterly earnings results on Wednesday. The business services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.51 by ($0.01), Briefing.com reports. The business had revenue of $695.90 million during the quarter, compared to analysts’ expectations of $697.04 million. Korn Ferry had a net margin of 11.92% and a return on equity of 22.49%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 EPS. Korn Ferry updated its Q2 guidance to $1.34-1.50 EPS.

Korn Ferry Stock Performance

Korn Ferry stock opened at $51.35 on Friday. The stock’s 50 day moving average price is $62.19 and its 200 day moving average price is $61.96. The firm has a market capitalization of $2.72 billion, a PE ratio of 8.46 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.79 and a current ratio of 2.18. Korn Ferry has a one year low of $51.08 and a one year high of $84.68.

Korn Ferry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 23rd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, September 22nd. Korn Ferry’s dividend payout ratio (DPR) is presently 9.88%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KFY. StockNews.com cut Korn Ferry from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 10th. Truist Financial decreased their target price on Korn Ferry from $98.00 to $75.00 and set a “buy” rating for the company in a report on Friday, June 17th. Robert W. Baird decreased their target price on Korn Ferry from $72.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group decreased their target price on Korn Ferry from $83.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, June 7th.

Hedge Funds Weigh In On Korn Ferry

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its position in shares of Korn Ferry by 55.2% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 336 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Korn Ferry by 22.6% in the 1st quarter. Lazard Asset Management LLC now owns 1,695 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 313 shares in the last quarter. Point72 Hong Kong Ltd raised its position in shares of Korn Ferry by 14.8% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,629 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 338 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Korn Ferry in the 2nd quarter valued at approximately $207,000. Finally, Creative Planning raised its position in shares of Korn Ferry by 7.8% in the 2nd quarter. Creative Planning now owns 3,601 shares of the business services provider’s stock valued at $209,000 after purchasing an additional 262 shares in the last quarter. 94.70% of the stock is owned by institutional investors and hedge funds.

About Korn Ferry

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Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.

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Earnings History for Korn Ferry (NYSE:KFY)

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