Korn Ferry's Q1 Earnings Forecast: What Analysts Predict
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Korn Ferry's Earnings Outlook for Q1
Korn Ferry (NYSE: KFY) is preparing to announce its earnings results for the first quarter soon. The anticipation is building as analysts predict an encouraging financial report ahead of the market opening.
Analyst Expectations for Earnings Results
Experts foresee the California-based firm achieving quarterly earnings of $1.12 per share, marking a notable increase from the 99 cents reported in the same quarter last year. Furthermore, Korn Ferry aims to report a quarterly revenue of approximately $663.94 million, indicating positive growth based on recent data.
Recent Quarterly Performance
On a recent note, Korn Ferry reported a decline in fourth-quarter revenue, which fell by 5.2% year-over-year to $699.9 million. However, this result surpassed the anticipated consensus, which was set at $689.92 million, demonstrating the company’s resilience.
Market Reaction and Stock Performance
In the financial markets, Korn Ferry's stock experienced a slight gain, up 0.1%, closing at $71.29 on the previous Wednesday. Such movement often reflects investor confidence, reinforcing the positive sentiment surrounding the company's upcoming earnings report.
Recent Analyst Ratings and Price Targets
Let’s delve into how analysts view Korn Ferry's potential. Truist Securities analyst Tobey Sommer has reiterated a Buy rating, adjusting the price target upward from $74 to $78. Furthermore, Baird's analyst Mark Marcon has maintained an Outperform rating, increasing the price target from $72 to $79. Notably, UBS analyst Joshua Chan holds a Neutral rating, raising the target from $66 to $68.
What This Means for Investors
With analysts showing confidence in Korn Ferry's potential, it presents an intriguing opportunity for investors considering KFY stock. Taking into account their revised price targets, investors might reflect on these insights before making any decisions.
Conclusion and Looking Ahead
As Korn Ferry approaches its earnings release, market participants are keenly awaiting the results. The mixture of increased earnings predictions and supportive analyst ratings suggest a positive outlook for both the upcoming report and the company’s long-term trajectory. Stakeholders are encouraged to remain engaged as further developments unfold.
Frequently Asked Questions
What is Korn Ferry's expected earnings for Q1?
Korn Ferry is expected to report earnings of $1.12 per share for Q1.
What was Korn Ferry's revenue forecast for the quarter?
The revenue forecast for the quarter is approximately $663.94 million.
How did Korn Ferry perform in the previous quarter?
In the previous quarter, Korn Ferry's revenue fell by 5.2% to $699.9 million but surpassed analyst expectations.
What do analysts think about Korn Ferry's stock?
Many analysts maintain positive ratings, with price targets raised by several leading firms.
What is Korn Ferry's stock ticker?
Korn Ferry's stock ticker is KFY and is traded on the NYSE.
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