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

Federated Hermes

25/07/2024 23:43

* Federated Hermes Inc  FHI.N  reported quarterly adjusted
earnings of 20 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 81 cents.  The mean expectation of seven analysts for the
quarter was for earnings of 89 cents per share. Wall Street
expected results to range from 85 cents to 91 cents per share.
    * Revenue fell 7.1% to $402.58 million from a year ago;
analysts
expected $400.36 million. 
    * Federated Hermes Inc's reported EPS for the quarter was 26
cents​.
    * The company reported quarterly net income of $21.03
million.
    * Federated Hermes Inc shares had risen by 5.8% this
quarter and
gained 5.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "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 $35.00 
This summary was machine generated from LSEG data July 25 at
10:43 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
 Jun. 30 2024      0.89           0.20           Missed
 Mar. 31 2024      0.88           0.89           Beat
 Dec. 31 2023      0.83           0.96           Beat
 Sep. 30 2023      0.83           0.86           Beat