Federated Hermes Inc reports results for the quarter ended in September 30 - Earnings Summary

Federated Hermes

27/10/2024 15:54

* Federated Hermes Inc  FHI.N  reported quarterly adjusted
earnings of $1.06​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of 86 cents.  The mean expectation of
seven analysts for the quarter was for earnings of 92 cents per
share. Wall Street expected results to range from 88 cents to 96
cents per share.
    * Revenue rose 1.4% to $408.46 million from a year ago;
analysts
expected $409.26 million. 
    * Federated Hermes Inc's reported EPS for the quarter was
$1.06​.
    * The company reported quarterly net income of $87.54
million.
    * Federated Hermes Inc shares had risen by 5.0% this
quarter and
gained 17.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.8%
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 $38.50 
This summary was machine generated from LSEG data October 27 at
03:54 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
 Sep. 30 2024      0.92           1.06           Beat
 Jun. 30 2024      0.89           0.20           Missed
 Mar. 31 2024      0.88           0.89           Beat
 Dec. 31 2023      0.83           0.96           Beat