Federated Hermes (FHI) Scheduled to Post Quarterly Earnings on Thursday

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

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $402.60 million during the quarter, compared to analyst estimates of $400.35 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 down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. 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 Price Performance

FHI opened at $38.00 on Thursday. The stock 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. The company’s 50-day simple moving average is $35.07 and its two-hundred day simple moving average is $34.10. Federated Hermes has a 52-week low of $30.23 and a 52-week high of $38.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.09 and a current ratio of 2.75.

Federated Hermes Increases Dividend

The business also recently announced 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 an increase from Federated Hermes’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 3.26%. Federated Hermes’s payout ratio is 35.23%.

Analyst Upgrades and Downgrades

FHI has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on Federated Hermes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. TD Cowen decreased their price target on shares of Federated Hermes from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. StockNews.com raised Federated Hermes from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. UBS Group lowered their target price on shares of Federated Hermes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Evercore ISI boosted their price objective on Federated Hermes from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Federated Hermes has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

Insider Activity

In related news, VP John B. Fisher sold 79,830 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 442,570 shares in the company, valued at $14,476,464.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company 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.