Brokerages Anticipate Korn/Ferry International (KFY) Will Post Quarterly Sales of $421.10 Million
Analysts predict that Korn/Ferry International (NYSE:KFY) will post $421.10 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Korn/Ferry International’s earnings, with estimates ranging from $417.77 million to $425.84 million. Korn/Ferry International posted sales of $401.92 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The business is scheduled to issue its next earnings results on Wednesday, December 6th.
On average, analysts expect that Korn/Ferry International will report full year sales of $421.10 million for the current financial year, with estimates ranging from $1.63 billion to $1.66 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.73 billion per share, with estimates ranging from $1.69 billion to $1.76 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Korn/Ferry International.
Korn/Ferry International (NYSE:KFY) last posted its earnings results on Wednesday, September 6th. The business services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $401.25 million for the quarter, compared to analysts’ expectations of $392.91 million. Korn/Ferry International had a net margin of 6.69% and a return on equity of 12.03%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share.
A number of analysts recently issued reports on KFY shares. Deutsche Bank AG lifted their target price on Korn/Ferry International from $34.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, September 7th. SunTrust Banks, Inc. lifted their target price on Korn/Ferry International from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, September 7th. BidaskClub downgraded Korn/Ferry International from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, Sidoti started coverage on Korn/Ferry International in a research report on Monday, June 12th. They set a “buy” rating and a $43.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $41.67.
Korn/Ferry International (KFY) opened at 39.78 on Monday. The company has a 50-day moving average of $36.03 and a 200 day moving average of $33.57. Korn/Ferry International has a 12-month low of $19.94 and a 12-month high of $40.64. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 20.79 and a beta of 1.40.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 27th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Tuesday, September 26th. Korn/Ferry International’s payout ratio is 20.83%.
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In other news, CFO Robert P. Rozek sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $40.04, for a total transaction of $480,480.00. Following the completion of the sale, the chief financial officer now owns 93,522 shares in the company, valued at $3,744,620.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry Leamon sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $40.06, for a total value of $320,480.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,837 shares of company stock valued at $5,503,941. 1.01% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Korn/Ferry International by 25.6% during the first quarter. Bank of America Corp DE now owns 521,885 shares of the business services provider’s stock worth $16,433,000 after acquiring an additional 106,520 shares during the period. Legal & General Group Plc grew its holdings in Korn/Ferry International by 9.7% during the second quarter. Legal & General Group Plc now owns 111,533 shares of the business services provider’s stock worth $3,852,000 after acquiring an additional 9,854 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Korn/Ferry International by 3.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 322,159 shares of the business services provider’s stock worth $10,145,000 after acquiring an additional 11,381 shares during the period. Principal Financial Group Inc. grew its holdings in Korn/Ferry International by 2.6% during the first quarter. Principal Financial Group Inc. now owns 443,964 shares of the business services provider’s stock worth $13,981,000 after acquiring an additional 11,428 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in Korn/Ferry International during the first quarter worth $758,000. Institutional investors and hedge funds own 88.92% of the company’s stock.
Korn/Ferry International Company Profile
Korn/Ferry International (Korn Ferry) is a people and organizational advisory company. The Company and its subsidiaries are engaged in the provision of talent management solutions, including executive search on a retained basis, recruitment for non-executive professionals, recruitment process outsourcing, and leadership and talent consulting services.
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