Korn Ferry (NYSE:KFY) Announces $0.37 Quarterly Dividend

Korn Ferry (NYSE:KFY) declared a quarterly dividend on Thursday, September 5th, RTT News reports. Shareholders 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 annualized dividend and a yield of 2.13%.

Korn Ferry has increased its dividend by an average of 28.1% per year over the last three years. Korn Ferry has a dividend payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 2.7 %

Shares of KFY stock traded down $1.96 during trading hours on Thursday, hitting $69.33. The company had a trading volume of 52,329 shares, compared to its average volume of 345,580. The stock has a market capitalization of $3.59 billion, a PE ratio of 21.37 and a beta of 1.54. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.79 and a quick ratio of 1.83. Korn Ferry has a fifty-two week low of $44.45 and a fifty-two week high of $75.30. The company’s fifty day moving average is $69.43 and its 200 day moving average is $65.87.

Korn Ferry (NYSE:KFY) last released its earnings results on Thursday, June 13th. The business services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.13. The company had revenue of $690.80 million during the quarter, compared to the consensus estimate of $687.36 million. Korn Ferry had a return on equity of 13.18% and a net margin of 6.05%. Korn Ferry’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. Research analysts expect that Korn Ferry will post 4.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Korn Ferry

In related news, CEO Mark Arian sold 5,000 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $66.73, for a total value of $333,650.00. Following the transaction, the chief executive officer now directly owns 96,484 shares of the company’s stock, valued at approximately $6,438,377.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by corporate insiders.

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.