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Recent Articles
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Korn Ferry’s Margin Performance Impressive in Fiscal First Quarter
Sep 16, 2024
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Image: Korn Ferry’s shares have bounced nicely since its bottom in late 2023.
Looking to the second quarter of fiscal 2025, Korn Ferry's fee revenue is expected in the range of $655-$685 million, while adjusted diluted earnings per share is expected to be between $1.14-$1.26. Though Korn Ferry faced pressure in Professional Search and RPO during its fiscal first quarter, we liked the improvement in Executive Search fee revenue, as well as its margin expansion, which was material in the period. Our fair value estimate for Korn Ferry stands at $78 per share. Shares yield 2.1%.
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Adobe's Fiscal Fourth Quarter Outlook Comes Up Short of Expectations
Sep 13, 2024
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Image: Adobe’s shares traded down on a weaker than expected fiscal fourth quarter outlook.
Though Adobe’s outlook for the fiscal fourth quarter came up short, we continue to like its net-cash-rich balance sheet and strong free cash flow generation. We’re already quite tech heavy in the simulated newsletter portfolios, so we won’t be considering Adobe for inclusion, but the company is worth watching closely, especially as shares dip following its fiscal third quarter report. The high end of our fair value estimate range stands north of $660 per share.
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Dividend Increases/Decreases for the Week of September 13
Sep 13, 2024
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Let's take a look at firms raising/lowering their dividends this week.
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Kroger Raises Identical Sales Growth Outlook
Sep 12, 2024
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Image: Kroger’s shares have been choppy during the past couple years.
Looking to fiscal 2024, Kroger reaffirmed its guidance for adjusted FIFO operating profit in the range of $4.6-$4.8 billion, adjusted net earnings per diluted share in the range of $4.30-$4.50, and adjusted free cash flow of $2.5-$2.7 billion. It updated its identical sales growth without fuel forecast to 0.75%-1.75% for the year, which is up from the prior range of 0.25%-1.75%. Kroger continues to work toward closing its merger with Albertsons, the completion of which remains uncertain given criticism from the FTC. Our fair value estimate for Kroger stands at $55 per share.
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