Korn Ferry (NYSE:KFY) Sets New 52-Week Low – Here’s What Happened

Shares of Korn Ferry (NYSE:KFY) hit a new 52-week low on Tuesday . The stock traded as low as $59.44 and last traded at $60.28, with a volume of 719286 shares trading hands. The stock had previously closed at $60.81.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th.

Korn Ferry Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. The business has a 50-day simple moving average of $66.87 and a 200 day simple moving average of $70.18. The firm has a market cap of $3.11 billion, a P/E ratio of 12.88 and a beta of 1.40.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.06. The company had revenue of $676.50 million for the quarter, compared to analysts’ expectations of $650.45 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. Korn Ferry’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 27th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.19%. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, March 27th. Korn Ferry’s dividend payout ratio is presently 41.29%.

Institutional Trading of Korn Ferry

A number of hedge funds have recently modified their holdings of KFY. The Manufacturers Life Insurance Company boosted its stake in Korn Ferry by 4.1% during the third quarter. The Manufacturers Life Insurance Company now owns 29,903 shares of the business services provider’s stock worth $2,250,000 after acquiring an additional 1,183 shares in the last quarter. FMR LLC lifted its holdings in shares of Korn Ferry by 59.3% during the third quarter. FMR LLC now owns 4,608 shares of the business services provider’s stock valued at $347,000 after purchasing an additional 1,716 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Korn Ferry by 17.3% in the 3rd quarter. HighTower Advisors LLC now owns 5,430 shares of the business services provider’s stock worth $407,000 after purchasing an additional 800 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Korn Ferry by 25.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 12,418 shares of the business services provider’s stock worth $934,000 after buying an additional 2,518 shares during the last quarter. Finally, State Street Corp increased its position in Korn Ferry by 2.0% during the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock valued at $156,503,000 after buying an additional 40,240 shares in the last quarter. 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.