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

Korn Ferry (NYSE:KFY) announced a quarterly dividend on Wednesday, September 4th, RTT News reports. Stockholders of record on Thursday, September 19th will be given 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 of this dividend is Thursday, September 19th.

Korn Ferry has raised its dividend by an average of 28.1% annually over the last three years. Korn Ferry has a dividend payout ratio of 28.0% 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 Price Performance

Shares of NYSE:KFY opened at $73.13 on Wednesday. Korn Ferry has a one year low of $44.45 and a one year high of $75.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.15 and a quick ratio of 1.83. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 22.69 and a beta of 1.54. The firm has a 50 day simple moving average of $69.86 and a 200 day simple moving average of $66.44.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings results on Thursday, September 5th. The business services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.06. Korn Ferry had a net margin of 6.68% and a return on equity of 13.73%. The company had revenue of $682.80 million during the quarter, compared to the consensus estimate of $663.84 million. During the same period in the prior year, the business earned $0.99 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Research analysts predict that Korn Ferry will post 4.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Korn Ferry from $72.00 to $79.00 and gave the stock an “outperform” rating 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 stock a “neutral” rating in a report on Friday, June 7th. Truist Financial reaffirmed a “buy” rating and set a $78.00 price target (up previously from $74.00) on shares of Korn Ferry 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 report on Thursday, June 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.