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

Korn Ferry (NYSE:KFY) announced a quarterly dividend on Wednesday, June 12th, Wall Street Journal reports. Stockholders of record on Wednesday, July 3rd will be paid a dividend of 0.37 per share by the business services provider on Wednesday, July 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, July 3rd. This is a boost from Korn Ferry’s previous quarterly dividend of $0.33.

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 27.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Korn Ferry to earn $5.41 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 27.4%.

Korn Ferry Trading Down 0.9 %

Shares of KFY stock opened at $66.56 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.83 and a debt-to-equity ratio of 0.23. Korn Ferry has a 12-month low of $44.45 and a 12-month high of $70.78. The stock has a market capitalization of $3.50 billion, a P/E ratio of 20.67 and a beta of 1.54. The firm’s 50 day moving average is $64.96 and its 200 day moving average is $62.08.

Korn Ferry (NYSE:KFY) last released its quarterly earnings results on Thursday, June 13th. The business services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.13. The firm had revenue of $690.80 million for 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%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the business posted $1.01 EPS. Research analysts expect that Korn Ferry will post 4.86 earnings per share for the current year.

Insider Buying and Selling

In other Korn Ferry news, CEO Mark Arian sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $66.01, for a total value of $330,050.00. Following the completion of the transaction, the chief executive officer now directly owns 91,484 shares in the company, valued at $6,038,858.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Korn Ferry 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.