Federated Hermes Inc reports results for the quarter ended in December - Earnings Summary

Federated Hermes

25/01/2024 23:40

* Federated Hermes Inc  FHI.N  reported quarterly adjusted
earnings of 96 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 90 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 83 cents per
share. Wall Street expected results to range from 74 cents to 87
cents per share.
    * Revenue rose 4.7% to $391.50 million from a year ago;
analysts
expected $396.98 million. 
    * Federated Hermes Inc's reported EPS for the quarter was 96
cents​.
    * The company reported quarterly net income of $82.18
million.
    * Federated Hermes Inc shares had risen by 1.5% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.9%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the investment
management & fund operators peer group is also "hold"

Wall Street's median 12-month price target for Federated Hermes
Inc is $36.00 
This summary was machine generated from LSEG data January 25 at
11:39 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.83           0.96           Beat
 Sep. 30 2023      0.83           0.86           Beat
 Jun. 30 2023      0.82           0.81           Missed
 Mar. 31 2023      0.73           0.78           Beat