Zacks: Brokerages Anticipate Korn/Ferry International (KFY) Will Post Quarterly Sales of $421.10 Million
Wall Street brokerages expect that Korn/Ferry International (NYSE:KFY) will post sales of $421.10 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Korn/Ferry International’s earnings, with the highest sales estimate coming in at $425.84 million and the lowest estimate coming in at $417.77 million. Korn/Ferry International reported sales of $401.92 million during the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, December 6th.
According to Zacks, analysts expect that Korn/Ferry International will report full year sales of $421.10 million for the current year, with estimates ranging from $1.63 billion to $1.66 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.74 billion per share, with estimates ranging from $1.71 billion to $1.76 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Korn/Ferry International.
Korn/Ferry International (NYSE:KFY) last posted its earnings results on Wednesday, September 6th. The business services provider reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The company had revenue of $401.25 million during the quarter, compared to analyst estimates of $392.91 million. Korn/Ferry International had a net margin of 6.69% and a return on equity of 12.03%. Korn/Ferry International’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share.
In related news, Director Jerry Leamon sold 8,000 shares of the stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $40.06, for a total value of $320,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert P. Rozek sold 12,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $40.04, for a total transaction of $480,480.00. Following the completion of the transaction, the chief financial officer now directly owns 93,522 shares of the company’s stock, valued at $3,744,620.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,000 shares of company stock valued at $2,801,960. 1.01% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Korn/Ferry International by 41.1% in the second quarter. JPMorgan Chase & Co. now owns 123,475 shares of the business services provider’s stock worth $4,264,000 after buying an additional 35,971 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Korn/Ferry International by 9.7% during the second quarter. Legal & General Group Plc now owns 111,533 shares of the business services provider’s stock valued at $3,852,000 after purchasing an additional 9,854 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in shares of Korn/Ferry International by 12.8% during the second quarter. Kennedy Capital Management Inc. now owns 105,690 shares of the business services provider’s stock valued at $3,649,000 after purchasing an additional 11,987 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Korn/Ferry International by 9.2% during the second quarter. Bank of New York Mellon Corp now owns 1,713,949 shares of the business services provider’s stock valued at $59,184,000 after purchasing an additional 143,828 shares in the last quarter. Finally, Sciencast Management LP bought a new position in shares of Korn/Ferry International during the second quarter valued at approximately $411,000. 86.20% of the stock is owned by institutional investors.
Shares of Korn/Ferry International (NYSE:KFY) opened at $42.06 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.13 and a current ratio of 2.13. The firm has a market cap of $2,383.42, a PE ratio of 18.42 and a beta of 1.35. Korn/Ferry International has a 1-year low of $25.93 and a 1-year high of $44.08.
WARNING: “Zacks: Brokerages Anticipate Korn/Ferry International (KFY) Will Post Quarterly Sales of $421.10 Million” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/06/zacks-brokerages-anticipate-kornferry-international-kfy-will-post-quarterly-sales-of-421-10-million.html.
Korn/Ferry International Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Korn/Ferry International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Korn/Ferry International and related companies with MarketBeat.com's FREE daily email newsletter.