Federated Hermes (FHI) to Release Quarterly Earnings on Thursday

Federated Hermes (NYSE:FHI) is scheduled to be releasing its earnings data after the market closes on Thursday, October 24th. Analysts expect Federated Hermes to post earnings of $0.89 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Federated Hermes (NYSE:FHI) last posted its earnings results on Thursday, July 25th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.89 by $0.07. Federated Hermes had a return on equity of 28.60% and a net margin of 15.90%. The firm had revenue of $402.60 million during the quarter, compared to the consensus estimate of $400.35 million. During the same period last year, the company earned $0.81 earnings per share. The business’s quarterly revenue 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 Stock Performance

Federated Hermes stock opened at $38.00 on Thursday. The business has a 50 day moving average of $35.07 and a 200-day moving average of $34.10. The company has a market capitalization of $3.20 billion, a P/E ratio of 10.80, a P/E/G ratio of 1.41 and a beta of 1.16. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $38.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.75 and a quick ratio of 2.09.

Federated Hermes Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 8th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Thursday, August 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. Federated Hermes’s payout ratio is 35.23%.

Analyst Ratings Changes

FHI has been the topic of a number of research analyst reports. Evercore ISI upped their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their target price on Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. UBS Group lowered their target price on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. TD Cowen cut their price objective on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Finally, Royal Bank of Canada lifted their price target on shares of Federated Hermes from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.80.

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 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 directly owns 442,570 shares in the company, valued at $14,476,464.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.70% of the company’s stock.

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.