Korn Ferry (NYSE:KFY) Expected to Announce Quarterly Sales of $494.99 Million

Wall Street brokerages expect that Korn Ferry (NYSE:KFY) will report $494.99 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Korn Ferry’s earnings, with the highest sales estimate coming in at $496.39 million and the lowest estimate coming in at $494.00 million. Korn Ferry reported sales of $495.21 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0%. The firm is expected to announce its next quarterly 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 year, with estimates ranging from $1.95 billion to $1.98 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.05 billion, with estimates ranging from $2.01 billion to $2.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Korn Ferry.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, September 5th. The business services provider reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $475.35 million. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis.

Several equities analysts have weighed in on KFY shares. Robert W. Baird set a $42.00 target price on shares of Korn Ferry and gave the company a “hold” rating in a report on Friday, September 6th. Sidoti reduced their price objective on shares of Korn Ferry from $72.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Credit Suisse Group lowered their target price on shares of Korn Ferry from $40.00 to $37.00 and set an “underperform” rating for the company in a report on Friday, September 6th. ValuEngine upgraded shares of Korn Ferry from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of Korn Ferry from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $50.00.

Korn Ferry stock traded down $0.14 during mid-day trading on Thursday, hitting $39.28. The company had a trading volume of 8,793 shares, compared to its average volume of 295,279. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 11.86 and a beta of 1.10. Korn Ferry has a 12-month low of $34.35 and a 12-month high of $49.54. The company’s fifty day moving average is $37.81 and its 200-day moving average is $39.56. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. bought a new stake in shares of Korn Ferry in the 3rd quarter worth approximately $68,000. SG Americas Securities LLC purchased a new stake in Korn Ferry in the third quarter worth approximately $137,000. Tower Research Capital LLC TRC grew its position in Korn Ferry by 421.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,060 shares of the business services provider’s stock worth $203,000 after purchasing an additional 4,089 shares during the period. CWM Advisors LLC purchased a new stake in Korn Ferry during the 2nd quarter valued at $206,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Korn Ferry during the 2nd quarter valued at $290,000. Institutional investors own 90.27% of the company’s stock.

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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