Korn/Ferry International (NYSE:KFY) Shares Gap Up Following Strong Earnings

Korn/Ferry International (NYSE:KFY)’s share price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $67.77, but opened at $70.87. Korn/Ferry International shares last traded at $70.0830, with a volume of 48,911 shares trading hands.

The business services provider reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. Korn/Ferry International had a net margin of 9.29% and a return on equity of 14.36%. The firm had revenue of $768.26 million during the quarter, compared to analysts’ expectations of $743.35 million. During the same period in the previous year, the business posted $1.32 EPS. The business’s revenue was up 6.7% compared to the same quarter last year.

Korn/Ferry International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $0.55 dividend. The ex-dividend date is Monday, July 6th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Korn/Ferry International’s dividend payout ratio is 43.48%.

Analyst Upgrades and Downgrades

KFY has been the topic of a number of analyst reports. Wall Street Zen upgraded Korn/Ferry International from a “hold” rating to a “buy” rating in a research report on Sunday, March 1st. UBS Group increased their price target on Korn/Ferry International from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Weiss Ratings raised Korn/Ferry International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 1st. Finally, Truist Financial boosted their price objective on Korn/Ferry International from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Korn/Ferry International currently has a consensus rating of “Moderate Buy” and an average price target of $74.67.

Institutional Trading of Korn/Ferry International

A number of institutional investors and hedge funds have recently modified their holdings of KFY. IFP Advisors Inc lifted its stake in Korn/Ferry International by 69.4% in the 4th quarter. IFP Advisors Inc now owns 503 shares of the business services provider’s stock valued at $33,000 after buying an additional 206 shares in the last quarter. Kestra Investment Management LLC increased its stake in Korn/Ferry International by 71.8% during the 2nd quarter. Kestra Investment Management LLC now owns 579 shares of the business services provider’s stock worth $42,000 after buying an additional 242 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Korn/Ferry International by 200.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 600 shares of the business services provider’s stock worth $44,000 after buying an additional 400 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of Korn/Ferry International by 30,350.0% during the fourth quarter. Clearstead Advisors LLC now owns 609 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 607 shares during the last quarter. Finally, Torren Management LLC purchased a new position in shares of Korn/Ferry International in the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

Korn/Ferry International Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a 50 day moving average price of $67.98 and a 200-day moving average price of $66.13. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 13.84 and a beta of 1.21.

About Korn/Ferry International

Korn Ferry International is a global organizational consulting firm that partners with clients to design optimal structures, roles and responsibilities. The company’s core offerings include executive search, talent acquisition, leadership development and succession planning. By blending deep industry expertise with data-driven insights, Korn Ferry helps organizations identify, assess and develop executives and high-potential talent for critical roles.

Since its founding in 1969 and with headquarters in Los Angeles, Korn Ferry has expanded its presence to more than 50 offices across North America, Europe, Asia Pacific and Latin America.