SunTrust Banks Weighs in on Korn Ferry’s Q3 2020 Earnings (NYSE:KFY)

Korn Ferry (NYSE:KFY) – SunTrust Banks reduced their Q3 2020 earnings per share estimates for Korn Ferry in a research note issued on Friday, December 6th. SunTrust Banks analyst T. Sommer now expects that the business services provider will post earnings per share of $0.74 for the quarter, down from their prior forecast of $0.83. SunTrust Banks also issued estimates for Korn Ferry’s Q4 2020 earnings at $1.00 EPS, Q1 2021 earnings at $0.91 EPS, Q2 2021 earnings at $1.07 EPS, Q3 2021 earnings at $1.02 EPS and Q4 2021 earnings at $1.16 EPS.

Korn Ferry (NYSE:KFY) last released its earnings results on Thursday, December 5th. The business services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. Korn Ferry had a net margin of 9.10% and a return on equity of 14.79%. The business had revenue of $492.40 million during the quarter, compared to the consensus estimate of $494.92 million. During the same quarter in the prior year, the firm posted $0.85 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year.

Several other equities research analysts have also recently weighed in on KFY. Credit Suisse Group decreased their price objective on shares of Korn Ferry from $40.00 to $37.00 and set an “underperform” rating for the company in a research report on Friday, September 6th. Sidoti dropped their target price on shares of Korn Ferry from $63.00 to $58.00 and set a “buy” rating on the stock in a report on Friday. ValuEngine raised shares of Korn Ferry from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Zacks Investment Research upgraded Korn Ferry from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Robert W. Baird lowered their price objective on Korn Ferry from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $48.25.

Shares of NYSE KFY opened at $39.52 on Monday. The company’s 50 day moving average price is $38.10 and its 200-day moving average price is $39.44. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37. Korn Ferry has a 52-week low of $34.35 and a 52-week high of $49.54. The company has a market capitalization of $2.25 billion, a P/E ratio of 11.94 and a beta of 1.10.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Voloridge Investment Management LLC acquired a new stake in shares of Korn Ferry during the 3rd quarter worth approximately $887,000. Barclays PLC lifted its position in shares of Korn Ferry by 22.2% during the 3rd quarter. Barclays PLC now owns 78,528 shares of the business services provider’s stock valued at $3,035,000 after acquiring an additional 14,256 shares during the period. California State Teachers Retirement System boosted its stake in Korn Ferry by 1.2% during the third quarter. California State Teachers Retirement System now owns 87,929 shares of the business services provider’s stock worth $3,398,000 after acquiring an additional 1,051 shares in the last quarter. Voya Investment Management LLC boosted its stake in Korn Ferry by 647.5% during the third quarter. Voya Investment Management LLC now owns 425,610 shares of the business services provider’s stock worth $16,445,000 after acquiring an additional 368,673 shares in the last quarter. Finally, Paradice Investment Management LLC grew its holdings in Korn Ferry by 18.0% in the third quarter. Paradice Investment Management LLC now owns 160,250 shares of the business services provider’s stock worth $6,192,000 after purchasing an additional 24,426 shares during the period. 90.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

Recommended Story: What is Elliott Wave theory?

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.