Federated Hermes (FHI - Free Report) shares ended the last trading session 7.6% higher at $32.15. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.4% loss over the past four weeks.
Investors are likely bullish about the investment management space on expectations of interest rate hikes this year. The rate hike expectations will support FHI’s margin growth and revenues. Also, any rise in volatility and relatively higher client activity, might result in asset inflows for the majority of the industry players. Driven by this, AUM growth is expected to continue in the near term. This possibly led to the optimistic stance of the investors, which drove FHI’s stock.
This one of the nation's largest managers of money market funds is expected to post quarterly earnings of $0.74 per share in its upcoming report, which represents a year-over-year change of +10.5%. Revenues are expected to be $346.26 million, up 11.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Federated Hermes, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FHI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Federated Hermes belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, Ameriprise Financial Services (AMP - Free Report) , closed the last trading session 4.1% higher at $249.29. Over the past month, AMP has returned -12.7%.
For Ameriprise, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $5.99. This represents a change of +13.7% from what the company reported a year ago. Ameriprise currently has a Zacks Rank of #3 (Hold).
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Federated Hermes (FHI - Free Report) shares ended the last trading session 7.6% higher at $32.15. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.4% loss over the past four weeks.
Investors are likely bullish about the investment management space on expectations of interest rate hikes this year. The rate hike expectations will support FHI’s margin growth and revenues. Also, any rise in volatility and relatively higher client activity, might result in asset inflows for the majority of the industry players. Driven by this, AUM growth is expected to continue in the near term. This possibly led to the optimistic stance of the investors, which drove FHI’s stock.
This one of the nation's largest managers of money market funds is expected to post quarterly earnings of $0.74 per share in its upcoming report, which represents a year-over-year change of +10.5%. Revenues are expected to be $346.26 million, up 11.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Federated Hermes, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FHI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Federated Hermes belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, Ameriprise Financial Services (AMP - Free Report) , closed the last trading session 4.1% higher at $249.29. Over the past month, AMP has returned -12.7%.
For Ameriprise, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $5.99. This represents a change of +13.7% from what the company reported a year ago. Ameriprise currently has a Zacks Rank of #3 (Hold).
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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