Korn/Ferry International (KFY) Expected to Post Quarterly Sales of $482.92 Million

Equities research analysts predict that Korn/Ferry International (NYSE:KFY) will announce sales of $482.92 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Korn/Ferry International’s earnings. The lowest sales estimate is $479.58 million and the highest is $486.58 million. Korn/Ferry International reported sales of $443.02 million in the same quarter last year, which would suggest a positive year over year growth rate of 9%. The firm is expected to report its next earnings results on Wednesday, December 5th.

On average, analysts expect that Korn/Ferry International will report full year sales of $1.93 billion for the current fiscal year, with estimates ranging from $1.91 billion to $1.94 billion. For the next year, analysts anticipate that the company will report sales of $2.04 billion per share, with estimates ranging from $2.00 billion to $2.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Korn/Ferry International.

Korn/Ferry International (NYSE:KFY) last issued its quarterly earnings data on Thursday, September 6th. The business services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. Korn/Ferry International had a net margin of 3.51% and a return on equity of 14.26%. The business had revenue of $465.60 million for the quarter, compared to analyst estimates of $458.24 million. During the same period last year, the business posted $0.55 earnings per share. The firm’s quarterly revenue was up 16.0% on a year-over-year basis.

A number of equities research analysts recently commented on KFY shares. Zacks Investment Research lowered shares of Korn/Ferry International from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. Credit Suisse Group started coverage on shares of Korn/Ferry International in a report on Friday, August 10th. They set an “underperform” rating and a $55.00 price objective on the stock. TheStreet lowered shares of Korn/Ferry International from an “a-” rating to a “c+” rating in a report on Friday, September 7th. ValuEngine lowered shares of Korn/Ferry International from a “buy” rating to a “hold” rating in a report on Monday, September 10th. Finally, SunTrust Banks raised their price objective on shares of Korn/Ferry International to $72.00 and gave the stock a “buy” rating in a report on Thursday, June 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $61.40.

Shares of NYSE:KFY opened at $49.15 on Monday. Korn/Ferry International has a 12 month low of $37.94 and a 12 month high of $68.98. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.18. The firm has a market cap of $2.80 billion, a P/E ratio of 18.07 and a beta of 1.19.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 0.81%. Korn/Ferry International’s payout ratio is currently 14.71%.

In other Korn/Ferry International news, Director Debra J. Perry sold 3,422 shares of Korn/Ferry International stock in a transaction on Thursday, June 28th. The shares were sold at an average price of $60.26, for a total value of $206,209.72. Following the sale, the director now directly owns 23,030 shares in the company, valued at approximately $1,387,787.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Byrne K. Mulrooney sold 1,607 shares of Korn/Ferry International stock in a transaction on Friday, July 13th. The shares were sold at an average price of $65.07, for a total transaction of $104,567.49. Following the completion of the sale, the chief executive officer now owns 74,680 shares in the company, valued at $4,859,427.60. The disclosure for this sale can be found here. Insiders sold a total of 46,293 shares of company stock worth $2,923,128 over the last quarter. Company insiders own 0.91% of the company’s stock.

A number of hedge funds have recently modified their holdings of KFY. Advisors Preferred LLC increased its stake in Korn/Ferry International by 102.6% in the 2nd quarter. Advisors Preferred LLC now owns 1,732 shares of the business services provider’s stock valued at $107,000 after buying an additional 877 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its stake in Korn/Ferry International by 221.8% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,095 shares of the business services provider’s stock valued at $108,000 after buying an additional 1,444 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Korn/Ferry International in the 2nd quarter valued at $142,000. BlueMountain Capital Management LLC acquired a new stake in Korn/Ferry International in the 2nd quarter valued at $157,000. Finally, OLD National Bancorp IN acquired a new stake in Korn/Ferry International in the 2nd quarter valued at $229,000. Hedge funds and other institutional investors own 90.42% of the company’s stock.

About Korn/Ferry International

Korn/Ferry International, 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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