Korn Ferry: Upgrade To Buy As The Outlook Turns Positive [Seeking Alpha]
Korn Ferry (KFY)
Last korn ferry earnings: 3/10 04:05 pm
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US:NYSE Investor Relations:
ir.kornferry.com
Company Research
Source: Seeking Alpha
Decline in fee revenue, but EBITDA margins expanded and EPS outperformed expectations. Stabilizing labor markets and increased hiring activity indicate a potential upcycle for the business. Investment action I recommended a hold rating for Korn Ferry ( NYSE: KFY ) when I wrote about it the last time , as I awaited further clarity on the Fed's decision on cutting rates before I took a look at its upcoming performance. Based on my current outlook and analysis, I am upgrading my rating to a buy as the Fed message is very positive for KFY—continue to see rates being cut in 2H24. There are also growing signs of a recovery cycle up ahead that got me positive about the business. Lastly, with the KFY lower cost structure, earnings should grow faster than the top line when the upcycle really comes. Review KRY 3Q24 fee revenue came in at $668.7 million, a decline of 1.8% y/y on a reported basis and 2% on a constant currency basis. Revenue in executive search declined 7% y/y on a cons
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KFY
News
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- Is KornFerry International (KFY) Stock Undervalued Right Now? [Yahoo! Finance]Yahoo! Finance
KFY
Earnings
- 3/6/24 - Beat
KFY
Sec Filings
- 3/11/24 - Form 4
- 3/8/24 - Form 10-Q
- 3/8/24 - Form 144
- KFY's page on the SEC website