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

Federated Hermes (NYSE:FHI - Get Free Report) posted its earnings results 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. The firm had revenue of $408.46 million during 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% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS.

Federated Hermes Stock Performance

Federated Hermes stock remained flat at $38.60 during trading on Friday. 1,204,221 shares of the company were exchanged, compared to its average volume of 711,844. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $40.29. The company 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 has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75. The business's 50-day simple moving average is $35.74 and its 200-day simple moving average is $34.21.

Federated Hermes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 3.21%. Federated Hermes's payout ratio is 35.23%.

Analyst Ratings Changes

FHI has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, July 11th. UBS Group upped 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. TD Cowen dropped their price target 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 lifted their target price on Federated Hermes from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Finally, StockNews.com raised Federated Hermes from a "hold" rating to a "buy" rating in a research report on Friday, October 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.80.

Insider Buying and Selling at Federated Hermes

In other Federated Hermes news, VP John B. Fisher sold 79,830 shares of the company's 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 transaction, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by corporate 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.