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

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

Federated Hermes Trading Up 0.4 %

Shares of FHI stock traded up $0.17 during trading hours on Friday, reaching $38.77. The company had a trading volume of 711,062 shares, compared to its average volume of 709,352. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $40.29. 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 firm has a market cap of $3.26 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.41 and a beta of 1.16. The company has a 50 day moving average of $35.74 and a 200 day moving average of $34.21.

Wall Street Analyst Weigh In

FHI has been the subject of a number of recent analyst reports. UBS Group raised their price target on Federated Hermes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday. 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. Evercore ISI boosted their target price on shares of Federated Hermes from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. StockNews.com raised shares of Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Finally, TD Cowen reduced their price objective on Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Federated Hermes presently has an average rating of “Moderate Buy” and an average target price of $38.80.

Insider Buying and Selling

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the stock in a transaction dated 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 transaction, the vice president now 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 filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by insiders.

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.