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

Korn/Ferry International (NYSE:KFY) shares gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $66.76, but opened at $76.70. Korn/Ferry International shares last traded at $72.61, with a volume of 377,182 shares trading hands.

The business services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06. The firm had revenue of $712.05 million for the quarter, compared to analysts’ expectations of $690.07 million. Korn/Ferry International had a net margin of 9.01% and a return on equity of 14.52%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.

Korn/Ferry International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.92 annualized dividend and a dividend yield of 2.70%. Korn/Ferry International’s payout ratio is 41.29%.

Wall Street Analysts Forecast Growth

KFY has been the topic of several recent research reports. Truist Financial lowered their price target on shares of Korn/Ferry International from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen raised shares of Korn/Ferry International from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, UBS Group decreased their target price on shares of Korn/Ferry International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 27th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its position in Korn/Ferry International by 5.6% in the fourth quarter. Invesco Ltd. now owns 1,840,784 shares of the business services provider’s stock valued at $124,161,000 after buying an additional 97,811 shares during the last quarter. American Century Companies Inc. increased its stake in Korn/Ferry International by 89.1% during the first quarter. American Century Companies Inc. now owns 1,802,461 shares of the business services provider’s stock worth $122,261,000 after purchasing an additional 849,180 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Korn/Ferry International by 4.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,388,500 shares of the business services provider’s stock worth $95,001,000 after purchasing an additional 62,779 shares during the period. Thrivent Financial for Lutherans increased its stake in Korn/Ferry International by 19.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,133,548 shares of the business services provider’s stock worth $76,458,000 after purchasing an additional 184,170 shares during the period. Finally, Wellington Management Group LLP increased its stake in Korn/Ferry International by 22.3% during the first quarter. Wellington Management Group LLP now owns 932,890 shares of the business services provider’s stock worth $63,278,000 after purchasing an additional 170,041 shares during the period. Institutional investors and hedge funds own 98.82% of the company’s stock.

Korn/Ferry International Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $3.67 billion, a PE ratio of 15.30 and a beta of 1.42. The stock’s 50 day simple moving average is $65.96 and its 200-day simple moving average is $67.18.

About Korn/Ferry International

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.