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

Federated Hermes

26/04/2024 02:02

* Federated Hermes Inc  FHI.N  reported quarterly adjusted
earnings of 89 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 78 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 88 cents per
share. Wall Street expected results to range from 82 cents to 91
cents per share.
    * Revenue rose 3.7% to $396.37 million from a year ago;
analysts
expected $401.26 million. 
    * Federated Hermes Inc's reported EPS for the quarter was 89
cents​.
    * The company reported quarterly net income of $75.03
million.
    * Federated Hermes Inc shares had fallen by 3.2% this
quarter and
gained 3.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 7% in
the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

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 $38.50 
This summary was machine generated from LSEG data April 26 at
01:02 a.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
 Mar. 31 2024      0.88           0.89           Beat
 Dec. 31 2023      0.83           0.96           Beat
 Sep. 30 2023      0.83           0.86           Beat
 Jun. 30 2023      0.82           0.81           Missed