Federated Hermes (NYSE:FHI) Announces Quarterly Earnings Results

Federated Hermes (NYSE:FHI) issued its earnings results on Thursday. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.92 by $0.14, Briefing.com reports. The company had revenue of $408.46 million for the quarter, compared to the consensus estimate of $410.26 million. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS.

Federated Hermes Trading Up 0.1 %

Shares of NYSE FHI traded up $0.03 during mid-day trading on Friday, hitting $38.63. The company’s stock had a trading volume of 1,204,221 shares, compared to its average volume of 711,844. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The company’s fifty day simple moving average is $35.74 and its 200-day simple moving average is $34.21. Federated Hermes has a one year low of $30.23 and a one year high of $40.29.

Insider Activity at Federated Hermes

In related news, VP John B. Fisher sold 79,830 shares of Federated Hermes 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 completion of the sale, the vice president now directly owns 442,570 shares of the company’s stock, valued at $14,476,464.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on FHI. TD Cowen dropped their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, July 29th. UBS Group lifted their price objective on 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 increased their target price on Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Evercore ISI lifted their price target on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.