Federated Hermes (NYSE:FHI) Posts Quarterly Earnings Results

Federated Hermes (NYSE:FHI) announced its earnings results on Thursday. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.63 by $0.17, MarketWatch Earnings reports. Federated Hermes had a net margin of 21.18% and a return on equity of 29.70%. The company had revenue of $360.71 million during the quarter, compared to analysts’ expectations of $351.26 million.

FHI traded up $1.81 during midday trading on Friday, hitting $26.36. 1,194,362 shares of the company’s stock traded hands, compared to its average volume of 627,432. The stock has a market capitalization of $2.66 billion, a P/E ratio of 8.91, a PEG ratio of 1.06 and a beta of 1.26. The company’s fifty day moving average price is $23.21. The company has a current ratio of 2.69, a quick ratio of 2.30 and a debt-to-equity ratio of 0.29. Federated Hermes has a one year low of $13.06 and a one year high of $38.26.

The firm also recently disclosed a dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be given a dividend of $0.27 per share. The ex-dividend date is Thursday, August 6th. Federated Hermes’s payout ratio is presently 40.15%.

Several research analysts have commented on FHI shares. Royal Bank of Canada reiterated a “hold” rating and issued a $23.00 target price on shares of Federated Hermes in a report on Thursday, April 23rd. Zacks Investment Research raised shares of Federated Hermes from a “sell” rating to a “hold” rating and set a $18.00 price target for the company in a research report on Tuesday, May 19th. JPMorgan Chase & Co. raised shares of Federated Hermes from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $23.00 to $27.00 in a research report on Wednesday, May 6th. Deutsche Bank reduced their price target on shares of Federated Hermes from $24.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, July 9th. Finally, TheStreet lowered shares of Federated Hermes from a “b-” rating to a “c” rating in a research report on Friday, July 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $21.20.

About Federated Hermes

Federated Investors, Inc engages in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, Federated Funds, and Separate Accounts which include separately managed accounts (SMAs), institutional accounts, sub-advised funds and other managed products in both domestic and international markets.

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Earnings History for Federated Hermes (NYSE:FHI)

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