Why Consulting Firm Korn Ferry Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Korn Ferry (NYSE:KFY) shares surged after reporting better-than-expected Q4 FY24 results. Despite a 5.2% Y/Y revenue decline to $699.9 million, the company beat consensus estimates. Adjusted EBITDA and EPS also exceeded expectations. The company increased its quarterly dividend and repurchased shares. Korn Ferry's outlook for Q1 FY25 is positive, with expected EPS and fee revenue above consensus.
June 13, 2024 | 3:40 pm
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POSITIVE IMPACT
Korn Ferry's Q4 FY24 results exceeded expectations, leading to a 6.26% surge in share price. Despite a Y/Y revenue decline, the company reported higher adjusted EBITDA and EPS. The positive outlook for Q1 FY25 and increased dividend further boosted investor confidence.
The better-than-expected Q4 results, positive Q1 outlook, increased dividend, and share repurchases are strong indicators of financial health and investor confidence, leading to a positive short-term impact on KFY's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Invesco S&P SmallCap Industrials ETF (PSCI) may see a positive impact due to Korn Ferry's strong performance, as KFY is part of its holdings. The ETF could benefit from the surge in KFY's stock price.
Korn Ferry's strong performance and positive outlook could positively impact PSCI, as KFY is part of its holdings, potentially boosting the ETF's value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Elevation Series Trust Sovereign's Capital Flourish Fund (SOVF) may experience a positive impact due to Korn Ferry's strong Q4 FY24 results and positive outlook, as KFY is part of its portfolio.
Korn Ferry's strong performance and positive outlook could positively impact SOVF, as KFY is part of its portfolio, potentially boosting the fund's value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50