Korn/Ferry International (NYSE:KFY) Shares Gap Up on Strong Earnings

Korn/Ferry International (NYSE:KFY - Get Free Report)'s share price 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 EPS for the quarter, topping the consensus estimate of $1.26 by $0.06. The business had revenue of $712.05 million during the quarter, compared to analysts' expectations of $690.07 million. Korn/Ferry International had a net margin of 9.01% and a return on equity of 14.52%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share.

Korn/Ferry International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.61%. Korn/Ferry International's payout ratio is presently 41.29%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KFY shares. UBS Group lowered their price target on Korn/Ferry International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Truist Financial reduced their price objective on shares of Korn/Ferry International from $84.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of Korn/Ferry International from a "buy" rating to a "strong-buy" rating in a research report on Sunday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in shares of Korn/Ferry International by 75.9% during the first quarter. Versant Capital Management Inc now owns 517 shares of the business services provider's stock worth $35,000 after buying an additional 223 shares during the period. CX Institutional bought a new position in shares of Korn/Ferry International during the 1st quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Korn/Ferry International in the first quarter valued at approximately $62,000. Wealthfront Advisers LLC bought a new stake in shares of Korn/Ferry International in the fourth quarter worth $76,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Korn/Ferry International by 230.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider's stock worth $93,000 after purchasing an additional 963 shares during the last quarter. Institutional investors own 98.82% of the company's stock.

Korn/Ferry International Price Performance

The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.22. The company's fifty day moving average is $65.82 and its 200 day moving average is $67.15. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 15.78 and a beta of 1.42.

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.

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