Q2 2018 EPS Estimates for Korn/Ferry International (KFY) Lowered by SunTrust Banks
Korn/Ferry International (NYSE:KFY) – Investment analysts at SunTrust Banks decreased their Q2 2018 earnings estimates for Korn/Ferry International in a report issued on Thursday. SunTrust Banks analyst T. Sommer now forecasts that the business services provider will post earnings of $0.65 per share for the quarter, down from their previous estimate of $0.66. SunTrust Banks has a “Buy” rating and a $42.00 price target on the stock. SunTrust Banks also issued estimates for Korn/Ferry International’s Q3 2018 earnings at $0.62 EPS, Q1 2019 earnings at $0.66 EPS, Q2 2019 earnings at $0.75 EPS, Q3 2019 earnings at $0.70 EPS and Q4 2019 earnings at $0.79 EPS.
KFY has been the subject of a number of other reports. Zacks Investment Research cut Korn/Ferry International from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. BidaskClub cut Korn/Ferry International from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Sidoti began coverage on Korn/Ferry International in a research note on Monday, June 12th. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Deutsche Bank AG boosted their target price on Korn/Ferry International from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $36.60.
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Shares of Korn/Ferry International (NYSE KFY) opened at 35.46 on Friday. Korn/Ferry International has a 12-month low of $19.94 and a 12-month high of $36.84. The company’s 50-day moving average is $33.11 and its 200-day moving average is $32.54. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 24.19 and a beta of 1.39.
Korn/Ferry International (NYSE:KFY) last released its earnings results on Wednesday, September 6th. The business services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. Korn/Ferry International had a net margin of 6.69% and a return on equity of 12.20%. The firm had revenue of $401.25 million for the quarter, compared to analysts’ expectations of $392.91 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Korn/Ferry International by 81,030.6% during the first quarter. BlackRock Inc. now owns 6,954,519 shares of the business services provider’s stock worth $218,997,000 after acquiring an additional 6,945,947 shares during the period. Dimensional Fund Advisors LP grew its holdings in Korn/Ferry International by 27.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,234,255 shares of the business services provider’s stock worth $133,336,000 after acquiring an additional 913,207 shares during the period. RidgeWorth Capital Management LLC acquired a new position in Korn/Ferry International during the first quarter worth $25,757,000. SG Capital Management LLC acquired a new position in Korn/Ferry International during the second quarter worth $13,492,000. Finally, American Century Companies Inc. grew its holdings in Korn/Ferry International by 86.3% during the first quarter. American Century Companies Inc. now owns 645,550 shares of the business services provider’s stock worth $20,328,000 after acquiring an additional 299,050 shares during the period. 86.92% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Robert P. Rozek sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $34.48, for a total value of $379,280.00. Following the transaction, the chief financial officer now owns 111,782 shares of the company’s stock, valued at $3,854,243.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary D. Burnison sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $34.73, for a total value of $1,389,200.00. Following the completion of the transaction, the chief executive officer now directly owns 251,485 shares in the company, valued at approximately $8,734,074.05. The disclosure for this sale can be found here. In the last three months, insiders sold 183,837 shares of company stock worth $6,336,501. Corporate insiders own 1.01% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Wednesday, September 27th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, September 26th. Korn/Ferry International’s dividend payout ratio (DPR) is 20.83%.
About Korn/Ferry International
Korn/Ferry International (Korn Ferry) is a people and organizational advisory company. The Company and its subsidiaries are engaged in the provision of talent management solutions, including executive search on a retained basis, recruitment for non-executive professionals, recruitment process outsourcing, and leadership and talent consulting services.
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