Korn/Ferry International (KFY) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research cut shares of Korn/Ferry International (NYSE:KFY) from a buy rating to a hold rating in a report released on Friday.
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. “
A number of other analysts have also recently commented on KFY. Robert W. Baird restated a hold rating and issued a $45.00 price objective on shares of Korn/Ferry International in a research report on Thursday, December 7th. BidaskClub cut shares of Korn/Ferry International from a hold rating to a sell rating in a research report on Saturday, August 12th. ValuEngine cut shares of Korn/Ferry International from a strong-buy rating to a buy rating in a research report on Friday, December 1st. Deutsche Bank increased their target price on Korn/Ferry International from $34.00 to $40.00 and gave the stock a hold rating in a report on Thursday, September 7th. Finally, SunTrust Banks increased their target price on Korn/Ferry International from $40.00 to $42.00 and gave the stock a buy rating in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $43.40.
Shares of Korn/Ferry International (KFY) opened at $41.18 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.94 and a quick ratio of 2.13. Korn/Ferry International has a 1 year low of $27.47 and a 1 year high of $44.08. The company has a market cap of $2,371.28, a price-to-earnings ratio of 17.70 and a beta of 1.35.
Korn/Ferry International (NYSE:KFY) last released its quarterly earnings data on Wednesday, December 6th. The business services provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. Korn/Ferry International had a net margin of 6.90% and a return on equity of 12.15%. The business had revenue of $443.02 million during the quarter, compared to analysts’ expectations of $424.09 million. During the same quarter in the prior year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. research analysts expect that Korn/Ferry International will post 2.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Tuesday, December 19th. Korn/Ferry International’s dividend payout ratio (DPR) is presently 19.61%.
In other Korn/Ferry International news, Director Jerry Leamon sold 8,000 shares of the stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $40.06, for a total transaction of $320,480.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $480,480.00. Following the transaction, the chief financial officer now owns 93,522 shares of the company’s stock, valued at approximately $3,744,620.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,000 shares of company stock valued at $2,801,960. Corporate insiders own 1.01% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in KFY. Bank of Montreal Can grew its holdings in shares of Korn/Ferry International by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 3,166 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 52 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in shares of Korn/Ferry International by 80.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,430 shares of the business services provider’s stock valued at $118,000 after acquiring an additional 1,530 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Korn/Ferry International by 26.7% in the 2nd quarter. SG Americas Securities LLC now owns 4,161 shares of the business services provider’s stock valued at $144,000 after acquiring an additional 878 shares in the last quarter. OLD National Bancorp IN bought a new position in shares of Korn/Ferry International in the 3rd quarter valued at about $208,000. Finally, First Quadrant L P CA bought a new position in shares of Korn/Ferry International in the 3rd quarter valued at about $212,000. Institutional investors own 86.20% of the company’s stock.
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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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