Korn Ferry (NYSE:KFY) Plans Quarterly Dividend of $0.48

Korn Ferry (NYSE:KFY) announced a quarterly dividend on Monday, March 10th, RTT News reports. Stockholders of record on Thursday, March 27th will be given a dividend of 0.48 per share by the business services provider on Tuesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.08%. This is a 29.7% increase from Korn Ferry’s previous quarterly dividend of $0.37.

Korn Ferry has raised its dividend payment by an average of 46.3% per year over the last three years. Korn Ferry has a dividend payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Korn Ferry to earn $5.37 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 27.6%.

Korn Ferry Stock Down 5.1 %

NYSE:KFY traded down $3.37 during trading hours on Monday, hitting $62.42. 840,637 shares of the company’s stock traded hands, compared to its average volume of 328,487. The stock’s fifty day moving average price is $67.63 and its two-hundred day moving average price is $70.87. The firm has a market cap of $3.22 billion, a P/E ratio of 13.34 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07. Korn Ferry has a twelve month low of $59.78 and a twelve month high of $80.64.

Korn Ferry (NYSE:KFY) last issued its earnings results on Thursday, December 5th. The business services provider reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company had revenue of $682.00 million for the quarter, compared to the consensus estimate of $675.35 million. During the same quarter in the prior year, the company earned $0.97 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts expect that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Insider Transactions at Korn Ferry

In other news, CEO Mark Arian sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the completion of the sale, the chief executive officer now owns 68,869 shares in the company, valued at approximately $4,975,096.56. This represents a 22.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on KFY shares. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial boosted their target price on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, December 6th.

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.