Q2 2024 EPS Estimates for Federated Hermes, Inc. (NYSE:FHI) Reduced by Analyst
Federated Hermes, Inc. (NYSE:FHI – Free Report) – Stock analysts at Zacks Research decreased their Q2 2024 earnings estimates for shares of Federated Hermes in a research report issued to clients and investors on Thursday, May 16th. Zacks Research analyst R. Department now forecasts that the company will post earnings of $0.87 per share for the quarter, down from their prior estimate of $0.90. The consensus estimate for Federated Hermes’ current full-year earnings is $3.60 per share. Zacks Research also issued estimates for Federated Hermes’ Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.60 EPS, Q1 2025 earnings at $0.94 EPS, Q2 2025 earnings at $0.94 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.88 EPS, Q1 2026 earnings at $1.03 EPS and FY2026 earnings at $4.41 EPS. Several other research analysts have also recently weighed in on FHI. UBS Group lifted their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. upped their target price on shares of Federated Hermes from $46.00 to $47.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Royal Bank of Canada upped their target price on shares of Federated Hermes from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Monday, January 29th. Finally, Evercore ISI dropped their target price on shares of Federated Hermes from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.29. Read Our Latest Stock Analysis on FHI Federated Hermes Trading Down 0.8 % Shares of Federated Hermes stock opened at $32.79 on Monday. The company’s fifty day simple moving average is $34.78 and its 200-day simple moving average is $34.20. The stock has a market capitalization of $2.76 billion, a PE ratio of 9.32, a P/E/G ratio of 1.10 and a beta of 1.14. Federated Hermes has a 1-year low of $30.23 and a 1-year high of $38.93. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.39 and a quick ratio of 2.45. Federated Hermes (NYSE:FHI – Get Free Report) last posted its earnings results on Thursday, April 25th. The company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89. The business had revenue of $396.37 million during the quarter, compared to the consensus estimate of $400.26 million. Federated Hermes had a net margin of 18.75% and a return on equity of 27.00%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. Hedge Funds Weigh In On Federated Hermes A number of institutional investors have recently modified their holdings of FHI. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Federated Hermes by 17.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,753 shares of the company’s stock worth $432,000 after acquiring an additional 1,886 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Federated Hermes by 5.2% during the third quarter. Principal Financial Group Inc. now owns 351,229 shares of the company’s stock valued at $11,896,000 after purchasing an additional 17,262 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Federated Hermes by 69.9% during the third quarter. Signaturefd LLC now owns 834 shares of the company’s stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in shares of Federated Hermes by 57.1% during the third quarter. Picton Mahoney Asset Management now owns 227,905 shares of the company’s stock valued at $7,719,000 after purchasing an additional 82,875 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP boosted its stake in shares of Federated Hermes by 0.9% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 3,172,520 shares of the company’s stock valued at $107,453,000 after purchasing an additional 27,321 shares in the last quarter. 75.94% of the stock is owned by hedge funds and other institutional investors. Insider Activity In other news, VP Paul A. Uhlman sold 13,820 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $36.20, for a total transaction of $500,284.00. Following the sale, the vice president now directly owns 276,084 shares in the company, valued at approximately $9,994,240.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Richard A. Novak sold 908 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $36.07, for a total transaction of $32,751.56. Following the transaction, the insider now directly owns 49,068 shares of the company’s stock, valued at $1,769,882.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Paul A. Uhlman sold 13,820 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $36.20, for a total transaction of $500,284.00. Following the transaction, the vice president now directly owns 276,084 shares in the company, valued at $9,994,240.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,030 shares of company stock worth $833,153. 3.70% of the stock is currently owned by corporate insiders. Federated Hermes Increases Dividend The firm also recently announced a None dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 8th were given a dividend of $1.31 per share. This represents a dividend yield of 3.8%. This is a boost from Federated Hermes’s previous None dividend of $1.27. The ex-dividend date was Tuesday, May 7th. Federated Hermes’s dividend payout ratio is currently 35.23%. About Federated Hermes (Get Free Report) 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.
