Korn Ferry (NYSE:KFY) Updates Q2 2024 Earnings Guidance

Korn Ferry (NYSE:KFY) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of $0.91-$1.01 for the period, compared to the consensus earnings per share estimate of $0.96. The company issued revenue guidance of -. Korn Ferry also updated its Q2 guidance to $0.91-1.01 EPS.

Analysts Set New Price Targets

Several research firms recently commented on KFY. StockNews.com upgraded shares of Korn Ferry from a hold rating to a buy rating in a report on Monday. Truist Financial reaffirmed a buy rating and issued a $65.00 price objective on shares of Korn Ferry in a research report on Friday, July 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $62.67.

Korn Ferry Stock Up 0.2 %

Shares of NYSE:KFY opened at $49.97 on Thursday. Korn Ferry has a 52-week low of $44.69 and a 52-week high of $59.91. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 12.62 and a beta of 1.49. The company has a 50 day moving average of $51.77 and a two-hundred day moving average of $51.02.

Korn Ferry (NYSE:KFY) last released its quarterly earnings results on Tuesday, June 27th. The business services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Korn Ferry had a net margin of 7.32% and a return on equity of 16.33%. The business had revenue of $730.90 million during the quarter, compared to the consensus estimate of $699.83 million. During the same quarter last year, the company earned $1.75 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts forecast that Korn Ferry will post 3.66 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 7th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, July 6th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. This is an increase from Korn Ferry’s previous quarterly dividend of $0.15. Korn Ferry’s dividend payout ratio (DPR) is presently 18.23%.

Institutional Trading of Korn Ferry

A number of hedge funds have recently made changes to their positions in the stock. Belpointe Asset Management LLC lifted its stake in Korn Ferry by 181.8% during the first quarter. Belpointe Asset Management LLC now owns 775 shares of the business services provider’s stock worth $40,000 after purchasing an additional 500 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Korn Ferry by 55.2% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the business services provider’s stock worth $61,000 after purchasing an additional 336 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Korn Ferry by 22.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,132 shares of the business services provider’s stock worth $57,000 after purchasing an additional 207 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Korn Ferry by 22.6% during the first quarter. Lazard Asset Management LLC now owns 1,695 shares of the business services provider’s stock worth $110,000 after purchasing an additional 313 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Korn Ferry by 11.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,256 shares of the business services provider’s stock worth $112,000 after purchasing an additional 223 shares during the last quarter. 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.