Korn/Ferry International (NYSE:KFY) Shares Gap Up Following Better-Than-Expected Earnings

Korn/Ferry International (NYSE:KFY - Get Free Report) shares gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $66.76, but opened at $76.70. Korn/Ferry International shares last traded at $72.61, with a volume of 377,182 shares.

The business services provider reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06. The business had revenue of $712.05 million during the quarter, compared to the consensus estimate of $690.07 million. Korn/Ferry International had a return on equity of 14.49% and a net margin of 8.91%. The company's revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share.

Korn/Ferry International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.92 annualized dividend and a dividend yield of 2.73%. Korn/Ferry International's payout ratio is currently 41.29%.

Analyst Ratings Changes

A number of research firms recently issued reports on KFY. UBS Group reduced their price objective on Korn/Ferry International from $75.00 to $74.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Wall Street Zen upgraded Korn/Ferry International from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 15th. Finally, Truist Financial raised their price objective on Korn/Ferry International from $80.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday.

Institutional Trading of Korn/Ferry International

Several hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. increased its position in Korn/Ferry International by 89.1% during the first quarter. American Century Companies Inc. now owns 1,802,461 shares of the business services provider's stock worth $122,261,000 after buying an additional 849,180 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of Korn/Ferry International during the fourth quarter worth $51,454,000. Norges Bank acquired a new position in shares of Korn/Ferry International during the fourth quarter worth $42,360,000. Rockefeller Capital Management L.P. increased its holdings in shares of Korn/Ferry International by 113.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 826,157 shares of the business services provider's stock worth $55,724,000 after buying an additional 438,644 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in Korn/Ferry International by 5,931.0% in the fourth quarter. Tidal Investments LLC now owns 352,030 shares of the business services provider's stock valued at $23,744,000 after purchasing an additional 346,193 shares during the period. Institutional investors and hedge funds own 98.82% of the company's stock.

Korn/Ferry International Stock Down 1.1%

The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 15.22 and a beta of 1.42. The stock has a fifty day moving average of $66.25 and a two-hundred day moving average of $67.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.83 and a quick ratio of 1.90.

Korn/Ferry International Company Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.