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

Korn Ferry (NYSE:KFY - Get Free Report) announced a quarterly dividend on Monday, March 10th, RTT News reports. Investors 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 2.86%. 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 increased its dividend by an average of 46.3% annually over the last three years. Korn Ferry has a payout ratio of 24.9% 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 $1.48 annual dividend with an expected future payout ratio of 27.6%.

Korn Ferry Price Performance

NYSE:KFY traded up $0.62 during trading hours on Friday, reaching $67.08. The stock had a trading volume of 242,782 shares, compared to its average volume of 347,281. 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 stock has a market capitalization of $3.46 billion, a PE ratio of 14.33 and a beta of 1.57. Korn Ferry has a 52 week low of $59.78 and a 52 week high of $80.64. The company has a 50 day moving average price of $67.52 and a two-hundred day moving average price of $70.75.

Korn Ferry (NYSE:KFY - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $676.50 million for the quarter, compared to analysts' expectations of $650.45 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. As a group, sell-side analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

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Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KFY. 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 price objective on Korn Ferry from $78.00 to $84.00 and gave the company a "buy" rating in a report 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.