Zacks: Brokerages Expect Korn Ferry (NYSE:KFY) Will Post Quarterly Sales of $494.99 Million

Equities analysts forecast that Korn Ferry (NYSE:KFY) will announce $494.99 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued 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 reported sales of $495.21 million during the same quarter last year, which indicates a negative year over year growth rate of 0%. The business is expected to announce its next earnings report on Thursday, December 5th.

On average, analysts expect that Korn Ferry will report full year sales of $1.97 billion for the current financial year, with estimates ranging from $1.95 billion to $1.98 billion. For the next financial year, analysts anticipate that the business will report sales of $2.05 billion, with estimates ranging from $2.01 billion to $2.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Korn Ferry.

Korn Ferry (NYSE:KFY) last released its earnings results on Thursday, September 5th. The business services provider reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.01). Korn Ferry had a return on equity of 15.26% and a net margin of 9.25%. The business had revenue of $484.50 million for the quarter, compared to the consensus estimate of $475.35 million. During the same quarter last year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year.

Several research firms recently weighed in on KFY. Sidoti decreased their price objective on Korn Ferry from $72.00 to $63.00 and set a “buy” rating for the company in a report on Friday, September 6th. SunTrust Banks decreased their price objective on 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 price objective on Korn Ferry and gave the company a “hold” rating in a report on Friday, September 6th. Zacks Investment Research upgraded Korn Ferry from a “strong sell” rating to a “hold” rating in a report on Wednesday. Finally, ValuEngine upgraded Korn Ferry from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $50.00.

Several hedge funds have recently added to or reduced their stakes in KFY. State of Tennessee Treasury Department boosted its stake in shares of Korn Ferry by 17.5% in the 1st quarter. State of Tennessee Treasury Department now owns 50,950 shares of the business services provider’s stock valued at $2,281,000 after purchasing an additional 7,574 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Korn Ferry by 33.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 201,113 shares of the business services provider’s stock valued at $9,006,000 after purchasing an additional 50,354 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Korn Ferry by 2,163.3% in the 1st quarter. Marshall Wace LLP now owns 366,273 shares of the business services provider’s stock valued at $16,401,000 after purchasing an additional 350,090 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in shares of Korn Ferry by 482.9% in the 1st quarter. Marshall Wace North America L.P. now owns 50,383 shares of the business services provider’s stock valued at $2,257,000 after purchasing an additional 41,740 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Korn Ferry by 42.9% in the 1st quarter. First Trust Advisors LP now owns 47,934 shares of the business services provider’s stock valued at $2,146,000 after purchasing an additional 14,393 shares in the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.

Shares of NYSE:KFY traded up $0.30 on Monday, hitting $36.38. 64,322 shares of the company’s stock were exchanged, compared to its average volume of 374,188. Korn Ferry has a 12 month low of $34.35 and a 12 month high of $49.54. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 10.99 and a beta of 1.11. The business’s 50 day simple moving average is $37.53 and its two-hundred day simple moving average is $41.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.37 and a quick ratio of 2.37.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.40 annualized dividend and a dividend yield of 1.10%. Korn Ferry’s payout ratio is currently 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.

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

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