Shares of Federated Hermes FHI were flat after-market trading after the company reported Q3 results.
Quarterly Results
Earnings per share rose 18.06% over the past year to $0.85, which beat the estimate of $0.71.
Revenue of $364,455,000 rose by 7.09% from the same period last year, which beat the estimate of $356,550,000.
Guidance
Earnings guidance hasn't been issued by the company for now.
Federated Hermes hasn't issued any revenue guidance for the time being.
Recent Stock Performance
Company's 52-week high was at $37.12
52-week low: $13.06
Price action over last quarter: down 12.82%
Company Description
Federated provides asset management services for institutional and individual investors. The company's $628.8 billion in managed assets at the end of June 2020 were composed of equity (12%), multiasset (1%), fixed-income (11%), alternative (3%) and money market (73%) funds. That said, the firm's cash-management operations are expected to generate 44% of Federated's revenue this year, compared with 36%, 14% and 6%, respectively, for the firm's equity, fixed-income and alternatives/multi-asset operations. From a channel perspective, the company's products are distributed via trust banks, wealth managers and retail broker/dealers (65% of AUM), institutional investors (25%) and international clients (10%).
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