Korn Ferry (KFY) Set to Announce Earnings on Wednesday

Korn Ferry (NYSE:KFY – Get Rating) will post its quarterly earnings results before the market opens on Wednesday, March 8th. Analysts expect Korn Ferry to post earnings of $0.89 per share for the quarter. Korn Ferry has set its Q3 guidance at $0.88-1.00 EPS and its Q3 2023 guidance at $0.88-$1.00 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Korn Ferry (NYSE:KFY – Get Rating) last released its quarterly earnings data on Thursday, December 8th. The business services provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. The business had revenue of $727.85 million for the quarter, compared to analysts’ expectations of $697.28 million. Korn Ferry had a return on equity of 21.64% and a net margin of 11.45%. On average, analysts expect Korn Ferry to post $5 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Korn Ferry Stock Performance

KFY opened at $56.18 on Monday. The stock has a market cap of $2.96 billion, a PE ratio of 9.26 and a beta of 1.46. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.25. Korn Ferry has a 1 year low of $46.47 and a 1 year high of $69.02. The stock’s 50 day simple moving average is $54.33 and its 200-day simple moving average is $54.16.

Korn Ferry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Wednesday, December 21st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Tuesday, December 20th. Korn Ferry’s dividend payout ratio is presently 9.88%.

Institutional Trading of Korn Ferry

Several large investors have recently made changes to their positions in KFY. Advisors Asset Management Inc. grew its holdings in shares of Korn Ferry by 55.2% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the business services provider’s stock worth $61,000 after purchasing an additional 336 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Korn Ferry by 22.6% during the first quarter. Lazard Asset Management LLC now owns 1,695 shares of the business services provider’s stock worth $110,000 after purchasing an additional 313 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Korn Ferry by 68.4% during the third quarter. Royal Bank of Canada now owns 3,033 shares of the business services provider’s stock valued at $142,000 after acquiring an additional 1,232 shares during the period. Point72 Hong Kong Ltd lifted its stake in shares of Korn Ferry by 14.8% during the first quarter. Point72 Hong Kong Ltd now owns 2,629 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 338 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Korn Ferry during the second quarter valued at $207,000. Institutional investors own 91.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KFY. The Goldman Sachs Group lowered their price target on Korn Ferry from $72.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, December 12th. Truist Financial lowered their price target on Korn Ferry from $75.00 to $65.00 in a research report on Friday, December 9th. William Blair cut Korn Ferry from an “outperform” rating to a “market perform” rating in a research report on Friday, November 25th. Robert W. Baird lowered their price target on Korn Ferry from $64.00 to $61.00 in a research report on Friday, December 9th. Finally, StockNews.com upgraded Korn Ferry from a “hold” rating to a “buy” rating in a research report on Thursday, December 29th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.67.

About Korn Ferry

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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.