Federated Hermes (NYSE:FHI) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Federated Hermes (NYSE:FHI) released its quarterly earnings data on Thursday. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.14, Briefing.com reports. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The business had revenue of $408.46 million for the quarter, compared to analysts’ expectations of $410.26 million. During the same quarter in the previous year, the business posted $0.86 EPS. Federated Hermes’s revenue for the quarter was up 1.4% on a year-over-year basis.

Federated Hermes Stock Up 0.1 %

Shares of NYSE:FHI traded up $0.03 during midday trading on Friday, hitting $38.63. The stock had a trading volume of 1,204,221 shares, compared to its average volume of 711,844. The company has a market cap of $3.25 billion, a P/E ratio of 11.20, a PEG ratio of 1.41 and a beta of 1.16. Federated Hermes has a 12 month low of $30.23 and a 12 month high of $40.29. The business’s 50-day simple moving average is $35.74 and its 200-day simple moving average is $34.21. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen lowered their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Evercore ISI increased their target price on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Royal Bank of Canada boosted their price target on Federated Hermes from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. UBS Group upped their price objective on Federated Hermes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Federated Hermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of Federated Hermes stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.71, for a total value of $2,611,239.30. Following the completion of the transaction, the vice president now owns 442,570 shares of the company’s stock, valued at $14,476,464.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.70% of the company’s stock.

About Federated Hermes

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.