UBS Reiterates a 'Neutral' on Korn/Ferry (KFY); Cutting FY13 Estimates & PT

June 14, 2012 10:44 AM EDT Send to a Friend
Get Alerts KFY Hot Sheet
Price: $27.04 -0.07%

Rating Summary:
    3 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
Trade KFY Now!
Join SI Premium – FREE
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.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

UBS, Earnings

Add Your Comment