UBS Reiterates a 'Neutral' on Korn/Ferry (KFY); Cutting FY13 Estimates & PT
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Price: $17.46 -0.74%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade KFY Now!
UBS reiterates a 'Neutral' on Korn/Ferry (NYSE: KFY) price target of $14.50 (from $17.00).
Analyst, Jennifer Huang, said, "Fiscal 4Q12 earnings beat (ex $0.03 separation charges) thanks to better revenue growth (March was particularly strong). But, management indicated engagements in April was ~(10)% below prior 5-6 month average, while May was stable month/month."
"We are lowering our FY’13E EPS est. to $1.00 from $1.26, based on challenging outlook. Our estimate does not take into account any restructuring charges, though if current macro continues, KFY is likely to right-size its cost structure."
For an analyst ratings summary and ratings history on Korn/Ferry click here. For more ratings news on Korn/Ferry click here.
Shares of Korn/Ferry closed at $13.16 yesterday, with a 52 week range of $11.25-$23.98.
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Analyst, Jennifer Huang, said, "Fiscal 4Q12 earnings beat (ex $0.03 separation charges) thanks to better revenue growth (March was particularly strong). But, management indicated engagements in April was ~(10)% below prior 5-6 month average, while May was stable month/month."
"We are lowering our FY’13E EPS est. to $1.00 from $1.26, based on challenging outlook. Our estimate does not take into account any restructuring charges, though if current macro continues, KFY is likely to right-size its cost structure."
For an analyst ratings summary and ratings history on Korn/Ferry click here. For more ratings news on Korn/Ferry click here.
Shares of Korn/Ferry closed at $13.16 yesterday, with a 52 week range of $11.25-$23.98.
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