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

Federated Hermes (NYSE:FHI) announced its earnings results on Thursday. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $408.46 million during the quarter, compared to the consensus estimate of $410.26 million. During the same quarter in the prior year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis.

Federated Hermes Stock Up 0.5 %

NYSE:FHI traded up $0.18 during mid-day trading on Friday, reaching $38.78. The company’s stock had a trading volume of 757,228 shares, compared to its average volume of 709,685. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $40.29. The stock has a fifty day moving average of $35.74 and a 200-day moving average of $34.21. The firm has a market capitalization of $3.26 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34.

Insider Transactions at Federated Hermes

In other news, VP John B. Fisher sold 79,830 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the transaction, the vice president now directly owns 442,570 shares of the company’s stock, valued at approximately $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FHI. TD Cowen reduced their price target on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, July 29th. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday, October 4th. UBS Group upped their price target on shares of Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday. Royal Bank of Canada raised 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. Finally, Evercore ISI lifted their price objective on Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.80.

Federated Hermes Company Profile

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.