Korn/Ferry International (KFY) Price Target Lowered to $63.00 at SunTrust Banks

Korn/Ferry International (NYSE:KFY) had its price target reduced by SunTrust Banks to $63.00 in a research note issued to investors on Friday morning, The Fly reports. SunTrust Banks currently has a buy rating on the business services provider’s stock.

Several other research analysts have also issued reports on KFY. Zacks Investment Research lowered Korn/Ferry International from a buy rating to a hold rating in a research report on Thursday, November 8th. Credit Suisse Group began coverage on Korn/Ferry International in a research report on Friday, August 10th. They issued an underperform rating and a $55.00 price target on the stock. ValuEngine lowered Korn/Ferry International from a buy rating to a hold rating in a research report on Monday, September 10th. Finally, TheStreet lowered Korn/Ferry International from an a- rating to a c+ rating in a research report on Friday, September 7th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $58.25.

Shares of NYSE KFY traded down $0.86 during midday trading on Friday, hitting $43.65. The stock had a trading volume of 615,191 shares, compared to its average volume of 381,500. The stock has a market capitalization of $2.53 billion, a P/E ratio of 16.05 and a beta of 1.18. Korn/Ferry International has a fifty-two week low of $38.53 and a fifty-two week high of $68.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.14 and a current ratio of 2.14.

Korn/Ferry International (NYSE:KFY) last posted its quarterly earnings results on Thursday, December 6th. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Korn/Ferry International had a return on equity of 14.97% and a net margin of 3.92%. The business had revenue of $495.20 million for the quarter, compared to analyst estimates of $485.94 million. During the same period last year, the company earned $0.67 EPS. The firm’s revenue was up 11.8% on a year-over-year basis. Equities research analysts forecast that Korn/Ferry International will post 3.33 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Thursday, December 20th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.92%. Korn/Ferry International’s dividend payout ratio is currently 14.71%.

Several large investors have recently bought and sold shares of KFY. Aperio Group LLC boosted its position in shares of Korn/Ferry International by 9.1% in the 2nd quarter. Aperio Group LLC now owns 21,714 shares of the business services provider’s stock worth $1,345,000 after purchasing an additional 1,813 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Korn/Ferry International by 6.8% during the second quarter. Crossmark Global Holdings Inc. now owns 13,853 shares of the business services provider’s stock worth $858,000 after acquiring an additional 880 shares in the last quarter. Comerica Bank lifted its holdings in Korn/Ferry International by 22.2% during the second quarter. Comerica Bank now owns 72,506 shares of the business services provider’s stock worth $4,755,000 after acquiring an additional 13,167 shares in the last quarter. First Trust Advisors LP lifted its holdings in Korn/Ferry International by 33.9% during the second quarter. First Trust Advisors LP now owns 76,233 shares of the business services provider’s stock worth $4,721,000 after acquiring an additional 19,298 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Korn/Ferry International by 20.1% during the second quarter. Victory Capital Management Inc. now owns 9,253 shares of the business services provider’s stock worth $573,000 after acquiring an additional 1,547 shares in the last quarter. Institutional investors and hedge funds own 90.03% of the company’s stock.

About Korn/Ferry International

Korn/Ferry International, together with its subsidiaries, provides talent management solutions worldwide. It operates through three segments: Executive Search, Hay Group, and Futurestep. The company provides executive search services to fill executive-level positions, such as board directors, chief executive officers, chief financial officers, chief operating officers, chief information officers, chief human resource officers, and other senior executive officers for clients in the consumer, financial services, industrial, life sciences/healthcare provider, technology, and educational/not-for-profit market sectors.

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