Korn Ferry slides after weak earnings outlook
KFY•Analyst view and stock performance
Of the five analysts who cover KFY, the breakdown of recommendations is four "strong buy" or "buy" and one "hold" rating.
Median price target of $84.50 is up from $82 a month ago.
Stock falls below its 50-day moving average for the first time since early July.
KFY shares are still up about 20% year to date, versus a 12% rise in the S&P 600 industrials .SPSMCI.
Shares fall after earnings and guidance
Shares of Korn Ferry KFY.N were down 3.9% on Wednesday to $78.88, a six-week low.
The consulting firm early Wednesday reported first-quarter adjusted EPS of $1.43, on revenue of $756.5 million, topping estimates of $1.36 per share and $739.4 million, per LSEG data.
But KFY forecast second-quarter EPS of $1.30 to $1.40, below the $1.46 per share estimate, suggesting costs from integrating newly acquired AMS business are weighing on near-term profitability.
Second-quarter revenue forecast of $860 million to $878 million was well above the current estimate of $765.5 million.
