Korn Ferry (NYSE:KFY) Expected to Post Quarterly Sales of $605.00 Million

Wall Street brokerages forecast that Korn Ferry (NYSE:KFY) will announce sales of $605.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Korn Ferry’s earnings, with estimates ranging from $600.00 million to $610.00 million. Korn Ferry posted sales of $435.44 million in the same quarter last year, which suggests a positive year over year growth rate of 38.9%. The business is expected to report its next earnings results on Monday, November 22nd.

On average, analysts expect that Korn Ferry will report full-year sales of $2.36 billion for the current financial year, with estimates ranging from $2.31 billion to $2.41 billion. For the next financial year, analysts expect that the firm will post sales of $2.41 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Korn Ferry.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Tuesday, September 7th. The business services provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.07 by $0.30. The business had revenue of $585.40 million during the quarter, compared to analyst estimates of $540.52 million. Korn Ferry had a net margin of 10.68% and a return on equity of 16.76%. The company’s quarterly revenue was up 70.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) EPS.

KFY has been the subject of a number of research analyst reports. Truist Securities upped their price objective on shares of Korn Ferry from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, June 2nd. Robert W. Baird increased their target price on shares of Korn Ferry from $89.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, September 9th. Credit Suisse Group raised their price objective on shares of Korn Ferry from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, June 23rd. Finally, Zacks Investment Research raised shares of Korn Ferry from a “hold” rating to a “strong-buy” rating and set a $84.00 target price on the stock in a report on Tuesday, September 14th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $83.00.

In other news, CFO Robert P. Rozek sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 9th. The shares were sold at an average price of $75.75, for a total transaction of $757,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Byrne K. Mulrooney sold 10,681 shares of the company’s stock in a transaction dated Friday, July 9th. The shares were sold at an average price of $68.41, for a total transaction of $730,687.21. Following the transaction, the chief executive officer now directly owns 119,593 shares of the company’s stock, valued at approximately $8,181,357.13. The disclosure for this sale can be found here. Insiders have sold a total of 78,370 shares of company stock valued at $5,577,110 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd acquired a new stake in Korn Ferry in the first quarter worth $32,000. O Shaughnessy Asset Management LLC grew its stake in shares of Korn Ferry by 90.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 527 shares of the business services provider’s stock worth $38,000 after purchasing an additional 251 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Korn Ferry in the second quarter worth $74,000. Heritage Wealth Management LLC grew its stake in shares of Korn Ferry by 59.5% in the second quarter. Heritage Wealth Management LLC now owns 1,525 shares of the business services provider’s stock worth $111,000 after purchasing an additional 569 shares in the last quarter. Finally, Bailard Inc. bought a new position in shares of Korn Ferry in the second quarter worth $203,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:KFY traded up $0.76 during trading hours on Friday, hitting $71.46. 7,863 shares of the company were exchanged, compared to its average volume of 282,940. The company’s 50 day moving average price is $69.19 and its 200-day moving average price is $67.06. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 17.60 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.34 and a quick ratio of 2.34. Korn Ferry has a 52-week low of $27.93 and a 52-week high of $76.50.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 23rd will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Wednesday, September 22nd. Korn Ferry’s dividend payout ratio (DPR) is presently 19.12%.

Korn Ferry Company Profile

Korn Ferry operates as a global organizational consulting firm, which engages in synchronizing its clients strategy, operations and talent to drive superior business performance. It operates through the following segments: Consulting, Digital, Executive Search North America, Executive Search EMEA, Executive Search Asia Pacific, Executive Search Latin America, and RPO & Professional Search.

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Earnings History and Estimates for Korn Ferry (NYSE:KFY)

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