Truist Financial Issues Positive Forecast for Korn/Ferry International (NYSE:KFY) Stock Price

Korn/Ferry International (NYSE:KFY) had its price objective upped by Truist Financial from $80.00 to $88.00 in a report released on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.

A number of other brokerages have also issued reports on KFY. UBS Group decreased their price target on Korn/Ferry International from $75.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 27th. Wall Street Zen raised Korn/Ferry International from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 15th.

Korn/Ferry International Stock Performance

NYSE KFY opened at $70.31 on Friday. The business’s 50-day moving average price is $66.25 and its 200 day moving average price is $67.07. The company has a current ratio of 1.83, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. Korn/Ferry International has a twelve month low of $59.23 and a twelve month high of $80.64. The company has a market capitalization of $3.63 billion, a PE ratio of 15.22 and a beta of 1.42.

Korn/Ferry International (NYSE:KFY) last issued its quarterly earnings results on Wednesday, June 18th. The business services provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. Korn/Ferry International had a return on equity of 14.49% and a net margin of 8.91%. The firm had revenue of $712.05 million for the quarter, compared to analyst estimates of $690.07 million. During the same period last year, the company earned $1.26 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, research analysts predict that Korn/Ferry International will post 4.75 earnings per share for the current year.

Korn/Ferry International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, July 3rd. Korn/Ferry International’s dividend payout ratio is currently 41.29%.

Hedge Funds Weigh In On Korn/Ferry International

Several hedge funds and other institutional investors have recently modified their holdings of KFY. State of New Jersey Common Pension Fund D lifted its stake in shares of Korn/Ferry International by 1.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 27,778 shares of the business services provider’s stock valued at $1,874,000 after purchasing an additional 343 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Korn/Ferry International by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 279,479 shares of the business services provider’s stock valued at $18,851,000 after purchasing an additional 7,510 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Korn/Ferry International in the 4th quarter valued at about $122,000. Handelsbanken Fonder AB lifted its stake in shares of Korn/Ferry International by 22.7% in the 4th quarter. Handelsbanken Fonder AB now owns 11,902 shares of the business services provider’s stock valued at $803,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Korn/Ferry International by 14.2% in the 4th quarter. Allianz Asset Management GmbH now owns 753,414 shares of the business services provider’s stock valued at $50,818,000 after purchasing an additional 93,591 shares in the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

Korn/Ferry International Company Profile

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.