Federated Hermes (NYSE:FHI – Get Free Report) issued its quarterly earnings results on Thursday. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.08, FiscalAI reports. Federated Hermes had a return on equity of 34.03% and a net margin of 21.30%. The firm had revenue of $507.33 million during the quarter, compared to the consensus estimate of $504.91 million. During the same period last year, the company earned $1.34 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis.
Federated Hermes Stock Performance
Shares of NYSE FHI opened at $62.68 on Tuesday. The company has a market cap of $4.68 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.50 and a beta of 0.66. Federated Hermes has a 12 month low of $47.26 and a 12 month high of $67.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.59 and a quick ratio of 1.89. The company has a 50-day simple moving average of $58.59 and a 200-day simple moving average of $57.43.
Federated Hermes Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, November 6th. Federated Hermes’s dividend payout ratio (DPR) is currently 27.44%.
Analyst Ratings Changes
Several research firms have weighed in on FHI. JPMorgan Chase & Co. upped their target price on Federated Hermes from $54.00 to $56.00 and gave the company an “underweight” rating in a report on Monday. Zacks Research downgraded Federated Hermes from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. TD Cowen boosted their price objective on shares of Federated Hermes from $56.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $58.00 price objective on shares of Federated Hermes in a research note on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Federated Hermes from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $59.60.
About Federated Hermes
Federated Hermes, Inc is a global investment management company that provides asset management services to individuals, financial intermediaries, corporations, governments and other institutions. The company manages a range of investment strategies, including equity, fixed-income, money market, multi-asset, alternative and liquidity management products.
Its offerings are distributed through mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts and institutional mandates.
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