Korn Ferry (NYSE:KFY) to Post Q2 2022 Earnings of $1.36 Per Share, William Blair Forecasts

Korn Ferry (NYSE:KFY) – Investment analysts at William Blair upped their Q2 2022 earnings per share (EPS) estimates for shares of Korn Ferry in a report released on Wednesday, September 8th. William Blair analyst T. Mulrooney now forecasts that the business services provider will post earnings of $1.36 per share for the quarter, up from their prior forecast of $1.09. William Blair also issued estimates for Korn Ferry’s Q3 2022 earnings at $1.20 EPS, Q4 2022 earnings at $1.31 EPS and FY2022 earnings at $5.28 EPS.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Tuesday, September 7th. The business services provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.30. Korn Ferry had a net margin of 10.68% and a return on equity of 16.76%. The company had revenue of $585.40 million for the quarter, compared to analyst estimates of $540.52 million. During the same period last year, the business posted ($0.19) EPS. The business’s quarterly revenue was up 70.1% on a year-over-year basis.

A number of other research firms also recently issued reports on KFY. Credit Suisse Group lifted their price objective on shares of Korn Ferry from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 23rd. Zacks Investment Research upgraded Korn Ferry from a “hold” rating to a “strong-buy” rating and set a $84.00 target price for the company in a report on Tuesday. Robert W. Baird increased their price objective on Korn Ferry from $89.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, September 9th. Finally, Truist Securities lifted their target price on Korn Ferry from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, June 2nd. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Korn Ferry presently has a consensus rating of “Buy” and an average target price of $83.00.

NYSE KFY opened at $73.16 on Monday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average price is $68.82 and its two-hundred day moving average price is $66.74. Korn Ferry has a 1 year low of $27.93 and a 1 year high of $76.50. The firm has a market capitalization of $3.99 billion, a P/E ratio of 18.15 and a beta of 1.63.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 23rd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.66%. The ex-dividend date is Wednesday, September 22nd. Korn Ferry’s dividend payout ratio is 19.12%.

In related news, CEO Byrne K. Mulrooney sold 7,571 shares of the business’s stock in a transaction on Monday, July 12th. The stock was sold at an average price of $68.56, for a total transaction of $519,067.76. Following the sale, the chief executive officer now directly owns 119,196 shares in the company, valued at approximately $8,172,077.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert P. Rozek sold 35,000 shares of the stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $70.59, for a total transaction of $2,470,650.00. Following the transaction, the chief financial officer now directly owns 150,558 shares in the company, valued at approximately $10,627,889.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,370 shares of company stock valued at $5,577,110. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Eaton Vance Management lifted its position in shares of Korn Ferry by 4.4% during the first quarter. Eaton Vance Management now owns 5,492 shares of the business services provider’s stock worth $343,000 after purchasing an additional 230 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Korn Ferry by 90.9% during the second quarter. O Shaughnessy Asset Management LLC now owns 527 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 251 shares during the period. Natixis Advisors L.P. boosted its position in Korn Ferry by 0.7% in the 2nd quarter. Natixis Advisors L.P. now owns 35,744 shares of the business services provider’s stock worth $2,593,000 after purchasing an additional 263 shares in the last quarter. Profund Advisors LLC raised its position in shares of Korn Ferry by 4.6% in the second quarter. Profund Advisors LLC now owns 6,753 shares of the business services provider’s stock worth $491,000 after acquiring an additional 300 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Korn Ferry by 3.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,802 shares of the business services provider’s stock worth $929,000 after buying an additional 391 shares during the period. Institutional investors own 90.28% of the company’s stock.

About Korn Ferry

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.

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

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