Korn Ferry (NYSE:KFY) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Korn Ferry (NYSE:KFY) from a sell rating to a hold rating in a research note released on Thursday 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. “

Several other analysts have also recently issued reports on KFY. Credit Suisse Group dropped their price objective on shares of Korn Ferry from $40.00 to $37.00 and set an underperform rating for the company in a research note on Friday, September 6th. Sidoti dropped 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 note on Friday, September 6th. Robert W. Baird set a $42.00 price objective on shares of Korn Ferry and gave the company a hold rating in a research note on Friday, September 6th. Finally, ValuEngine cut shares of Korn Ferry from a hold rating to a sell rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $50.00.

Shares of KFY traded up $0.06 during mid-day trading on Thursday, hitting $39.05. 249,131 shares of the company were exchanged, compared to its average volume of 368,220. Korn Ferry has a 1-year low of $34.35 and a 1-year high of $49.54. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37. The company has a 50 day moving average of $37.08 and a 200-day moving average of $40.48. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 11.80 and a beta of 1.08.

Korn Ferry (NYSE:KFY) last released its quarterly 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 company had revenue of $484.50 million for the quarter, compared to analyst estimates of $475.35 million. During the same quarter last year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts anticipate that Korn Ferry will post 3.25 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.40 annualized dividend and a yield of 1.02%. Korn Ferry’s dividend payout ratio is presently 12.08%.

A number of hedge funds and other institutional investors have recently made changes to their positions in KFY. Oregon Public Employees Retirement Fund grew its stake in shares of Korn Ferry by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,349 shares of the business services provider’s stock valued at $896,000 after buying an additional 400 shares during the period. Bailard Inc. boosted its position in shares of Korn Ferry by 4.8% during the 2nd quarter. Bailard Inc. now owns 8,800 shares of the business services provider’s stock worth $353,000 after purchasing an additional 400 shares during the period. Skyline Asset Management LP boosted its position in shares of Korn Ferry by 0.3% during the 3rd quarter. Skyline Asset Management LP now owns 116,900 shares of the business services provider’s stock worth $4,517,000 after purchasing an additional 400 shares during the period. Verition Fund Management LLC boosted its position in shares of Korn Ferry by 7.7% during the 2nd quarter. Verition Fund Management LLC now owns 14,277 shares of the business services provider’s stock worth $572,000 after purchasing an additional 1,018 shares during the period. Finally, Strs Ohio boosted its position in shares of Korn Ferry by 6.3% during the 2nd quarter. Strs Ohio now owns 28,500 shares of the business services provider’s stock worth $1,141,000 after purchasing an additional 1,700 shares during the period. 91.03% of the stock is owned by institutional investors.

About Korn Ferry

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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