Korn Ferry to Issue Quarterly Dividend of $0.37 (NYSE:KFY)

Korn Ferry (NYSE:KFY) announced a quarterly dividend on Wednesday, September 4th, RTT News reports. Stockholders of record on Thursday, September 19th will be paid a dividend of 0.37 per share by the business services provider on Tuesday, October 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 19th.

Korn Ferry has raised its dividend payment by an average of 28.1% annually over the last three years. Korn Ferry has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Korn Ferry to earn $5.38 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 27.5%.

Korn Ferry Stock Up 1.6 %

Korn Ferry stock opened at $73.13 on Wednesday. Korn Ferry has a fifty-two week low of $44.45 and a fifty-two week high of $75.30. The firm has a market capitalization of $3.79 billion, a PE ratio of 22.69 and a beta of 1.54. The company’s 50-day moving average is $69.86 and its 200-day moving average is $66.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 1.83.

Korn Ferry (NYSE:KFY) last released its quarterly earnings data on Thursday, September 5th. The business services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.12 by $0.06. The firm had revenue of $682.80 million for the quarter, compared to the consensus estimate of $663.84 million. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 earnings per share. Sell-side analysts anticipate that Korn Ferry will post 4.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial reissued a “buy” rating and set a $78.00 price target (up from $74.00) on shares of Korn Ferry in a report on Friday, June 14th. UBS Group boosted their target price on shares of Korn Ferry from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Robert W. Baird upped their price target on shares of Korn Ferry from $72.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Finally, StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Korn Ferry has an average rating of “Moderate Buy” and a consensus price target of $75.00.

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.