Federated Hermes, Inc. to Post FY2024 Earnings of $3.53 Per Share, Zacks Research Forecasts (NYSE:FHI)

Federated Hermes, Inc. (NYSE:FHI) – Stock analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for shares of Federated Hermes in a research report issued to clients and investors on Monday, October 7th. Zacks Research analyst R. Department now forecasts that the company will earn $3.53 per share for the year, down from their previous forecast of $3.54. The consensus estimate for Federated Hermes’ current full-year earnings is $3.62 per share. Zacks Research also issued estimates for Federated Hermes’ Q4 2025 earnings at $1.03 EPS and FY2025 earnings at $3.92 EPS.

A number of other research firms have also weighed in on FHI. StockNews.com upgraded shares of Federated Hermes from a “hold” rating to a “buy” rating in a report on Friday, October 4th. UBS Group dropped their price objective on Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on Federated Hermes from $46.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. TD Cowen dropped their price target on Federated Hermes from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Finally, Evercore ISI lifted their price target on shares of Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Federated Hermes presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Federated Hermes Price Performance

Shares of Federated Hermes stock opened at $35.98 on Thursday. The company’s fifty day simple moving average is $34.66 and its two-hundred day simple moving average is $34.06. Federated Hermes has a 12-month low of $30.23 and a 12-month high of $37.43. The firm has a market cap of $3.03 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. The company has a quick ratio of 2.09, a current ratio of 2.75 and a debt-to-equity ratio of 0.34.

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, topping the consensus estimate of $0.89 by $0.07. Federated Hermes had a net margin of 15.90% and a return on equity of 28.60%. The firm had revenue of $402.60 million for the quarter, compared to analysts’ expectations of $400.35 million. During the same quarter last year, the business earned $0.81 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis.

Hedge Funds Weigh In On Federated Hermes

Several large investors have recently made changes to their positions in FHI. Headlands Technologies LLC boosted its stake in Federated Hermes by 607.7% in the 1st quarter. Headlands Technologies LLC now owns 828 shares of the company’s stock worth $30,000 after purchasing an additional 711 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Federated Hermes by 49.0% in the third quarter. GAMMA Investing LLC now owns 1,061 shares of the company’s stock worth $39,000 after buying an additional 349 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Federated Hermes during the second quarter valued at approximately $47,000. CWM LLC increased its position in shares of Federated Hermes by 985.7% during the second quarter. CWM LLC now owns 1,444 shares of the company’s stock valued at $47,000 after acquiring an additional 1,311 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Federated Hermes by 26.0% in the 2nd quarter. UMB Bank n.a. now owns 1,436 shares of the company’s stock worth $47,000 after acquiring an additional 296 shares during the last quarter. 75.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.71, for a total transaction of $2,611,239.30. Following the sale, the vice president now owns 442,570 shares in the company, valued at approximately $14,476,464.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.70% of the stock is owned by insiders.

Federated Hermes Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 8th were given a dividend of $0.31 per share. The ex-dividend date was Thursday, August 8th. This is a positive change from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 3.45%. Federated Hermes’s payout ratio is currently 35.23%.

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.