$605.00 Million in Sales Expected for Korn Ferry (NYSE:KFY) This Quarter

Wall Street analysts expect Korn Ferry (NYSE:KFY) to report $605.00 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Korn Ferry’s earnings, with the highest sales estimate coming in at $610.00 million and the lowest estimate coming in at $600.00 million. Korn Ferry reported sales of $435.44 million in the same quarter last year, which indicates a positive year over year growth rate of 38.9%. The business is scheduled to report its next quarterly earnings results on Monday, November 22nd.

On average, analysts expect that Korn Ferry will report full-year sales of $2.36 billion for the current fiscal year, with estimates ranging from $2.31 billion to $2.41 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.41 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Korn Ferry.

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

KFY has been the subject of several research analyst reports. Zacks Investment Research upgraded Korn Ferry from a “hold” rating to a “strong-buy” rating and set a $84.00 price target for the company in a research report on Tuesday, September 14th. 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 note on Thursday, September 9th. Truist Securities increased their price objective on Korn Ferry from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, June 2nd. Finally, Credit Suisse Group increased their price objective on Korn Ferry from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, June 23rd. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Korn Ferry has an average rating of “Buy” and an average price target of $83.00.

In other news, CFO Robert P. Rozek sold 10,000 shares of Korn Ferry stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $75.75, for a total transaction of $757,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Byrne K. Mulrooney sold 7,571 shares of Korn Ferry stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $68.56, for a total value of $519,067.76. Following the sale, the chief executive officer now owns 119,196 shares in the company, valued at approximately $8,172,077.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,370 shares of company stock worth $2,015,810. 1.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KFY. Harvest Fund Management Co. Ltd purchased a new position in shares of Korn Ferry during the first quarter worth about $32,000. O Shaughnessy Asset Management LLC grew its holdings in shares of 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 worth $38,000 after buying an additional 251 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Korn Ferry during the second quarter worth about $74,000. Heritage Wealth Management LLC boosted its holdings in Korn Ferry by 59.5% in the 2nd quarter. Heritage Wealth Management LLC now owns 1,525 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 569 shares in the last quarter. Finally, First Mercantile Trust Co. purchased a new stake in Korn Ferry in the 1st quarter valued at approximately $179,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KFY traded up $1.53 during midday trading on Friday, hitting $74.60. 274,845 shares of the stock were exchanged, compared to its average volume of 282,608. Korn Ferry has a 52-week low of $27.93 and a 52-week high of $76.50. The stock has a fifty day simple moving average of $69.51 and a 200 day simple moving average of $67.23. The firm has a market cap of $4.07 billion, a P/E ratio of 18.51 and a beta of 1.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.34 and a current ratio of 2.34.

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 paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, September 22nd. Korn Ferry’s dividend payout ratio is presently 19.12%.

Korn Ferry Company Profile

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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