Korn Ferry (NYSE:KFY) Releases Earnings Results, Beats Expectations By $0.08 EPS

Korn Ferry (NYSE:KFY) issued its quarterly earnings data on Wednesday. The business services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.08, MarketWatch Earnings reports. The business had revenue of $676.80 million during the quarter, compared to analysts’ expectations of $657.91 million. Korn Ferry had a return on equity of 12.59% and a net margin of 5.34%. The company’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. Korn Ferry updated its Q4 guidance to $1.09-1.17 EPS and its Q4 2024 guidance to 1.090-1.170 EPS.

Korn Ferry Stock Up 0.9 %

KFY opened at $65.60 on Friday. The business’s 50-day simple moving average is $59.03 and its 200-day simple moving average is $53.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.86 and a current ratio of 1.83. Korn Ferry has a one year low of $44.45 and a one year high of $69.69. The stock has a market capitalization of $3.45 billion, a P/E ratio of 22.70 and a beta of 1.47.

Korn Ferry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, March 27th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, March 26th. Korn Ferry’s dividend payout ratio (DPR) is 45.67%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KFY. Robert W. Baird lifted their target price on Korn Ferry from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group lifted their target price on Korn Ferry from $55.00 to $63.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. William Blair raised Korn Ferry from a “market perform” rating to an “outperform” rating in a report on Thursday, February 29th. StockNews.com raised Korn Ferry from a “hold” rating to a “buy” rating in a report on Monday, March 4th. Finally, Truist Financial lifted their price target on Korn Ferry from $64.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.75.

Institutional Trading of Korn Ferry

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Korn Ferry by 0.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 173,856 shares of the business services provider’s stock worth $10,318,000 after purchasing an additional 739 shares in the last quarter. Barclays PLC increased its position in Korn Ferry by 241.1% in the 4th quarter. Barclays PLC now owns 94,496 shares of the business services provider’s stock valued at $5,608,000 after acquiring an additional 66,791 shares during the period. Vident Advisory LLC increased its position in Korn Ferry by 236.3% in the 4th quarter. Vident Advisory LLC now owns 14,815 shares of the business services provider’s stock valued at $879,000 after acquiring an additional 10,410 shares during the period. Nuveen Asset Management LLC increased its position in Korn Ferry by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 394,463 shares of the business services provider’s stock valued at $23,492,000 after acquiring an additional 3,927 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Korn Ferry by 65.1% in the 4th quarter. Public Sector Pension Investment Board now owns 109,376 shares of the business services provider’s stock valued at $6,491,000 after acquiring an additional 43,145 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Korn Ferry 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.