Korn Ferry (NYSE:KFY) Sets New 1-Year Low – What’s Next?

Korn Ferry (NYSE:KFY)’s stock price reached a new 52-week low on Monday . The stock traded as low as $59.23 and last traded at $59.44, with a volume of 138812 shares changing hands. The stock had previously closed at $60.72.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut their price objective on Korn Ferry from $84.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, April 15th.

Korn Ferry Trading Down 1.8 %

The company has a market capitalization of $3.07 billion, a PE ratio of 12.74 and a beta of 1.40. The stock has a fifty day moving average of $65.29 and a two-hundred day moving average of $69.34. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY) last issued its earnings results on Tuesday, March 11th. The business services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The company had revenue of $676.50 million for the quarter, compared to analysts’ expectations of $650.45 million. During the same quarter last year, the company earned $1.07 EPS. The firm’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Thursday, March 27th were issued a $0.48 dividend. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 3.22%. Korn Ferry’s dividend payout ratio (DPR) is currently 41.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KFY. Versant Capital Management Inc boosted its stake in shares of Korn Ferry by 75.9% during the 1st quarter. Versant Capital Management Inc now owns 517 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 223 shares in the last quarter. CX Institutional bought a new stake in Korn Ferry during the 1st quarter valued at approximately $39,000. Wealthfront Advisers LLC purchased a new stake in Korn Ferry in the fourth quarter worth $76,000. Smartleaf Asset Management LLC increased its stake in shares of Korn Ferry by 230.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,381 shares of the business services provider’s stock worth $93,000 after acquiring an additional 963 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in Korn Ferry by 828.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,671 shares of the business services provider’s stock valued at $113,000 after acquiring an additional 1,491 shares during the period. Hedge funds and other institutional investors own 98.82% of the company’s stock.

About Korn Ferry

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.