Korn/Ferry International Up 5%, Hits 52-Week High (KFY)

Shares of Korn/Ferry International KFY are currently up 5% at $19.52 per share during Wednesday morning trading. Today's trading range for shares of Korn/Ferry International has been between $18.76 and a 52-week high of $19.91 per share. The consensus price target of analysts covering the company's stock is $20.20 per share. Volume of 964,000 shares is already nearly 4 times the daily average volume of 258,000 shares. Korn/Ferry International (KFY) released financial results early Wednesday morning that beat Wall Street estimates. Korn/Ferry International reported 2nd quarter earnings of 30 cents per share, on revenue of $185.35 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 24 cents per share, on revenue of $178.71 million. CEO Gary D. Burnison said, "As evidenced by our sixth consecutive sequential fee revenue increase, our clients are increasingly turning to Korn/Ferry for a variety of their most important human capital needs. After meeting with many of our clients' CEOs over the last several months, it's evident that we are experiencing a two-speed labor recovery – global vs. local. Global enterprises are investing, hiring and expanding, while organizations more reliant on Western economies for growth have remained more cautious. Overall, I'm very pleased with our organization's results this quarter, which validate our strategy of helping clients achieve extraordinary performance through people." Analysts at Robert W. Baird upgraded Korn/Ferry International from a rating of Neutral to a rating of Outperform and raised the stock's price target from $20 to $24 per share. Read more from Benzinga's Company news.