Federated Hermes (FHI) Set to Announce Quarterly Earnings on Thursday

Federated Hermes (NYSE:FHI) will post its quarterly earnings results after the market closes on Thursday, October 24th. Analysts expect Federated Hermes to post earnings of $0.89 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Federated Hermes (NYSE:FHI) last issued its earnings results on Thursday, July 25th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 million. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, analysts expect Federated Hermes to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Federated Hermes Trading Down 1.5 %

NYSE FHI opened at $38.19 on Wednesday. The company has a current ratio of 2.75, a quick ratio of 2.09 and a debt-to-equity ratio of 0.34. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $39.03. The firm’s fifty day simple moving average is $35.53 and its 200-day simple moving average is $34.15. The company has a market capitalization of $3.21 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16.

Federated Hermes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were given a $0.31 dividend. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 8th. Federated Hermes’s dividend payout ratio is presently 35.23%.

Insiders Place Their Bets

In other news, VP John B. Fisher sold 79,830 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.71, for a total value 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 approximately $14,476,464.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

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