Korn Ferry (NYSE:KFY) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Korn Ferry (NYSE:KFYGet Rating) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Korn/Ferry International is the world’s leading and largest executive recruitment firm with the broadest global presence in the executive recruitment industry. KFY provides executive recruitment services exclusively on a retained basis and serve the global recruitment needs of our clients from middle to executive management. KFY’s clients are many of the world’s largest and most prestigious public and private companies, middle-market and emerging growth companies as well as governmental and not-for-profit organizations. “

A number of other equities analysts have also recently weighed in on the company. StockNews.com assumed coverage on Korn Ferry in a report on Thursday, March 31st. They set a buy rating on the stock. Robert W. Baird decreased their price objective on Korn Ferry from $106.00 to $90.00 in a report on Thursday, March 10th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $77.75.

Shares of KFY opened at $58.63 on Wednesday. The company has a market cap of $3.16 billion, a PE ratio of 10.66 and a beta of 1.44. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $63.90 and a 200-day moving average price of $69.83. Korn Ferry has a 12-month low of $56.60 and a 12-month high of $84.68.

Korn Ferry (NYSE:KFYGet Rating) last announced its quarterly earnings data on Wednesday, March 9th. The business services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.11. The company had revenue of $685.00 million for the quarter, compared to analysts’ expectations of $650.42 million. Korn Ferry had a return on equity of 21.47% and a net margin of 12.16%. Korn Ferry’s revenue for the quarter was up 43.3% compared to the same quarter last year. During the same period last year, the firm posted $0.95 EPS. As a group, analysts predict that Korn Ferry will post 6.11 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Monday, March 28th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 25th. This represents a $0.48 dividend on an annualized basis and a yield of 0.82%. Korn Ferry’s dividend payout ratio (DPR) is currently 8.73%.

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Korn Ferry by 192.6% in the 3rd quarter. Goldman Sachs Group Inc. now owns 606,027 shares of the business services provider’s stock worth $43,852,000 after purchasing an additional 398,890 shares during the period. BNP Paribas Arbitrage SA increased its stake in Korn Ferry by 99.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 62,240 shares of the business services provider’s stock worth $4,504,000 after purchasing an additional 31,102 shares during the period. Clark Capital Management Group Inc. purchased a new position in Korn Ferry in the 3rd quarter worth approximately $1,608,000. UBS Asset Management Americas Inc. increased its stake in Korn Ferry by 11.6% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 70,268 shares of the business services provider’s stock worth $5,085,000 after purchasing an additional 7,281 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Korn Ferry by 7.2% during the third quarter. Renaissance Technologies LLC now owns 149,700 shares of the business services provider’s stock valued at $10,832,000 after buying an additional 10,000 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

About Korn Ferry (Get Rating)

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and RPO (Recruitment Process Outsourcing) & Professional Search. 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 industrial, financial services, life sciences/healthcare provider, consumer, technology, and educational/not-for-profit market sectors.

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