Federated Hermes, Inc. (NYSE:FHI) to Post Q1 2024 Earnings of $0.87 Per Share, Zacks Research Forecasts

Federated Hermes, Inc. (NYSE:FHI) – Equities research analysts at Zacks Research lifted their Q1 2024 EPS estimates for shares of Federated Hermes in a report issued on Wednesday, April 10th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.87 for the quarter, up from their prior forecast of $0.83. The consensus estimate for Federated Hermes’ current full-year earnings is $3.70 per share. Zacks Research also issued estimates for Federated Hermes’ Q2 2024 earnings at $0.90 EPS, Q3 2024 earnings at $0.96 EPS, Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $3.73 EPS, Q1 2025 earnings at $1.01 EPS, Q2 2025 earnings at $1.01 EPS, Q3 2025 earnings at $1.07 EPS, Q4 2025 earnings at $1.09 EPS, FY2025 earnings at $4.17 EPS, Q1 2026 earnings at $1.11 EPS and FY2026 earnings at $4.57 EPS.

Federated Hermes (NYSE:FHI) last announced its quarterly earnings data on Friday, January 26th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.12. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The company had revenue of $391.50 million during the quarter, compared to the consensus estimate of $396.97 million. During the same quarter last year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of Federated Hermes from $36.00 to $37.00 and gave the company a “sector perform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. raised their target price on shares of Federated Hermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, January 18th. TD Cowen initiated coverage on shares of Federated Hermes in a research note on Thursday, January 4th. They set a “market perform” rating and a $32.00 target price for the company. Finally, UBS Group raised their target price on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Federated Hermes has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Federated Hermes Stock Performance

Shares of FHI opened at $35.73 on Friday. The firm has a 50-day moving average of $35.70 and a 200-day moving average of $34.02. Federated Hermes has a one year low of $30.23 and a one year high of $45.55. The company has a market cap of $3.02 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.87 and a beta of 1.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.51 and a quick ratio of 1.89.

Institutional Trading of Federated Hermes

Several hedge funds and other institutional investors have recently bought and sold shares of FHI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Federated Hermes by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,492 shares of the company’s stock valued at $1,209,000 after buying an additional 3,384 shares in the last quarter. BlackRock Inc. raised its position in shares of Federated Hermes by 3.7% in the 1st quarter. BlackRock Inc. now owns 13,001,719 shares of the company’s stock valued at $442,838,000 after buying an additional 466,504 shares in the last quarter. Yousif Capital Management LLC raised its position in shares of Federated Hermes by 3.0% in the 1st quarter. Yousif Capital Management LLC now owns 51,532 shares of the company’s stock valued at $1,755,000 after buying an additional 1,490 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Federated Hermes by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,250,041 shares of the company’s stock valued at $76,638,000 after buying an additional 40,797 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Federated Hermes by 313.0% in the 1st quarter. Sei Investments Co. now owns 49,005 shares of the company’s stock valued at $1,671,000 after buying an additional 37,140 shares in the last quarter. Institutional investors and hedge funds own 75.94% of the company’s stock.

Insider Transactions at Federated Hermes

In other Federated Hermes news, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total value of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares in the company, valued at approximately $1,769,882.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Federated Hermes news, CEO Saker Anwar Nusseibeh sold 8,302 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.15, for a total value of $300,117.30. Following the completion of the sale, the chief executive officer now owns 178,176 shares in the company, valued at approximately $6,441,062.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total transaction of $32,751.56. Following the completion of the sale, the insider now owns 49,068 shares of the company’s stock, valued at approximately $1,769,882.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,435 shares of company stock worth $4,092,831. 3.70% of the stock is owned by insiders.

Federated Hermes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 8th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Wednesday, February 7th. Federated Hermes’s dividend payout ratio is presently 32.84%.

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.