Federated Hermes (NYSE:FHI) Stock Price Up 7.4% on Better-Than-Expected Earnings
Federated Hermes Inc (NYSE:FHI)’s share price rose 7.4% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $26.39 and last traded at $26.36, approximately 1,182,040 shares changed hands during trading. An increase of 49% from the average daily volume of 795,832 shares. The stock had previously closed at $24.55.
The company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.17. Federated Hermes had a net margin of 21.18% and a return on equity of 29.70%. The firm had revenue of $360.71 million for the quarter, compared to analyst estimates of $351.26 million.
The firm also recently disclosed a dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Thursday, August 6th. Federated Hermes’s dividend payout ratio (DPR) is presently 40.15%.
The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 0.98 and a beta of 1.26. The business has a fifty day simple moving average of $23.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.69 and a quick ratio of 2.30.
Federated Hermes Company Profile (NYSE:FHI)
Federated Investors, Inc engages in the provision of investment management products and related financial services. It sponsors, markets and provides investment-related services to sponsored investment companies, Federated Funds, and Separate Accounts which include separately managed accounts (SMAs), institutional accounts, sub-advised funds and other managed products in both domestic and international markets.
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