Korn Ferry (NYSE:KFY) Plans Dividend Increase – $0.48 Per Share

Korn Ferry (NYSE:KFY) declared a quarterly dividend on Monday, March 10th, RTT News reports. Shareholders of record on Thursday, March 27th will be paid a dividend of 0.48 per share by the business services provider on Tuesday, April 15th. This represents a $1.92 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, March 27th. This is a 29.7% increase from Korn Ferry’s previous quarterly dividend of $0.37.

Korn Ferry has raised its dividend by an average of 46.3% annually over the last three years. Korn Ferry has a payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Korn Ferry to earn $5.37 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 35.8%.

Korn Ferry Trading Up 2.5 %

Shares of Korn Ferry stock opened at $68.28 on Tuesday. Korn Ferry has a 52-week low of $59.78 and a 52-week high of $80.64. The company’s 50-day simple moving average is $67.62 and its 200-day simple moving average is $70.50. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 14.59 and a beta of 1.57. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY) last issued its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.06. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The company had revenue of $676.50 million for the quarter, compared to analyst estimates of $650.45 million. During the same period in the prior year, the business posted $1.07 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research report on Tuesday, December 17th. Truist Financial upped 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.

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.