$388.97 Million in Sales Expected for Korn/Ferry International (NYSE:KFY) This Quarter
Wall Street analysts forecast that Korn/Ferry International (NYSE:KFY) will report sales of $388.97 million for the current quarter, Zacks reports. Three analysts have made estimates for Korn/Ferry International’s earnings, with estimates ranging from $386.90 million to $392.02 million. Korn/Ferry International posted sales of $375.62 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.6%. The company is scheduled to issue its next earnings report on Thursday, September 14th.
According to Zacks, analysts expect that Korn/Ferry International will report full-year sales of $388.97 million for the current year, with estimates ranging from $1.61 billion to $1.64 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.72 billion per share, with estimates ranging from $1.69 billion to $1.73 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Korn/Ferry International.
Korn/Ferry International (NYSE:KFY) last posted its quarterly earnings results on Tuesday, June 20th. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Korn/Ferry International had a net margin of 5.19% and a return on equity of 12.14%. The company had revenue of $419.60 million during the quarter, compared to analyst estimates of $405.33 million. During the same period last year, the firm posted $0.58 EPS. Korn/Ferry International’s revenue for the quarter was up .6% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the company. BidaskClub downgraded Korn/Ferry International from a “hold” rating to a “sell” rating in a report on Saturday. Sidoti assumed coverage on Korn/Ferry International in a report on Monday, June 12th. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Zacks Investment Research downgraded Korn/Ferry International from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.00.
Korn/Ferry International (NYSE:KFY) opened at 33.01 on Tuesday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 22.52 and a beta of 1.40. The firm’s 50-day moving average is $33.89 and its 200-day moving average is $32.10. Korn/Ferry International has a 52-week low of $19.94 and a 52-week high of $36.07.
In other news, CEO Byrne K. Mulrooney sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $34.61, for a total transaction of $553,760.00. Following the completion of the sale, the chief executive officer now owns 104,712 shares in the company, valued at $3,624,082.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert P. Rozek sold 11,000 shares of the company’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 sale, the chief financial officer now owns 111,782 shares of the company’s stock, valued at approximately $3,854,243.36. The disclosure for this sale can be found here. Insiders have sold 183,837 shares of company stock valued at $6,336,501 in the last 90 days. Company insiders own 1.19% of the company’s stock.
Several large investors have recently added to or reduced their stakes in KFY. Suntrust Banks Inc. bought a new stake in Korn/Ferry International during the first quarter valued at approximately $1,624,000. US Bancorp DE boosted its stake in Korn/Ferry International by 11.1% in the first quarter. US Bancorp DE now owns 50,494 shares of the business services provider’s stock valued at $1,590,000 after buying an additional 5,030 shares during the period. American Century Companies Inc. boosted its stake in Korn/Ferry International by 86.3% in the first quarter. American Century Companies Inc. now owns 645,550 shares of the business services provider’s stock valued at $20,328,000 after buying an additional 299,050 shares during the period. First Trust Advisors LP boosted its stake in Korn/Ferry International by 42.8% in the first quarter. First Trust Advisors LP now owns 28,676 shares of the business services provider’s stock valued at $903,000 after buying an additional 8,592 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Korn/Ferry International by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 80,801 shares of the business services provider’s stock valued at $2,544,000 after buying an additional 3,553 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.
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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.
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