Korn Ferry (NYSE:KFY) Expected to Post Quarterly Sales of $494.99 Million

Wall Street brokerages expect Korn Ferry (NYSE:KFY) to report sales of $494.99 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Korn Ferry’s earnings, with the lowest sales estimate coming in at $494.00 million and the highest estimate coming in at $496.39 million. Korn Ferry posted sales of $495.21 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0%. The firm is expected to issue its next earnings results on Thursday, December 5th.

According to Zacks, analysts expect that Korn Ferry will report full-year sales of $1.97 billion for the current fiscal year, with estimates ranging from $1.95 billion to $1.98 billion. For the next year, analysts forecast that the business will post sales of $2.05 billion, with estimates ranging from $2.01 billion to $2.08 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Korn Ferry.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings data on Thursday, September 5th. The business services provider reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.01). The firm had revenue of $484.50 million during the quarter, compared to analyst estimates of $475.35 million. Korn Ferry had a net margin of 9.25% and a return on equity of 15.26%. Korn Ferry’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS.



A number of research analysts have issued reports on KFY shares. Credit Suisse Group dropped their target price on shares of Korn Ferry from $40.00 to $37.00 and set an “underperform” rating for the company in a report on Friday, September 6th. SunTrust Banks dropped their target price on shares of Korn Ferry to $58.00 and set a “buy” rating for the company in a report on Friday, June 21st. Robert W. Baird set a $42.00 target price on shares of Korn Ferry and gave the company a “hold” rating in a report on Friday, September 6th. Sidoti dropped their target price on shares of Korn Ferry from $72.00 to $63.00 and set a “buy” rating for the company in a report on Friday, September 6th. Finally, Zacks Investment Research cut shares of Korn Ferry from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $50.00.

Institutional investors and hedge funds have recently modified their holdings of the company. Neo Ivy Capital Management purchased a new position in shares of Korn Ferry during the 2nd quarter worth approximately $1,437,000. Moody Aldrich Partners LLC increased its stake in shares of Korn Ferry by 2.7% during the 2nd quarter. Moody Aldrich Partners LLC now owns 108,335 shares of the business services provider’s stock worth $4,341,000 after purchasing an additional 2,891 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Korn Ferry by 13.9% during the 1st quarter. Acadian Asset Management LLC now owns 75,052 shares of the business services provider’s stock worth $3,361,000 after purchasing an additional 9,147 shares in the last quarter. Northern Trust Corp increased its stake in shares of Korn Ferry by 0.5% during the 2nd quarter. Northern Trust Corp now owns 1,427,800 shares of the business services provider’s stock worth $57,211,000 after purchasing an additional 6,582 shares in the last quarter. Finally, Federated Investors Inc. PA increased its stake in shares of Korn Ferry by 42.4% during the 1st quarter. Federated Investors Inc. PA now owns 268,545 shares of the business services provider’s stock worth $12,026,000 after purchasing an additional 80,018 shares in the last quarter. 91.17% of the stock is owned by institutional investors and hedge funds.

NYSE:KFY traded up $0.09 during mid-day trading on Friday, reaching $38.22. The stock had a trading volume of 530,938 shares, compared to its average volume of 366,061. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 11.55 and a beta of 1.17. Korn Ferry has a twelve month low of $34.35 and a twelve month high of $49.93. The business has a 50 day simple moving average of $38.22 and a 200 day simple moving average of $42.64.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.05%. Korn Ferry’s dividend payout ratio (DPR) is 12.08%.

Korn Ferry Company Profile

Korn Ferry, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive search services to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit market sectors.

Featured Story: Backdoor Roth IRA Conversion and Strategy

Get a free copy of the Zacks research report on Korn Ferry (KFY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Korn Ferry (NYSE:KFY)

Receive News & Ratings for Korn Ferry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Korn Ferry and related companies with MarketBeat.com's FREE daily email newsletter.