Here's Why Federated Hermes (FHI) is a Strong Momentum Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
Federated Hermes (FHI)
Headquartered in Pittsburgh, PA, Federated Hermes, Inc. is a global asset manager, with $757.6 billion in AUM, as of Dec 31, 2023. It was formed from the merger between Federated Investors and Hermes Investment Management.
FHI boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #1 (Strong Buy) rating. Shares of Federated Hermes has seen some interesting price action recently; the stock is down 0.1% over the past one week and up 1% over the past four weeks. And in the last one-year period, FHI has lost 9.2%. As for the stock's trading volume, 759,997.13 shares on average were traded over the last 20 days.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.19 to $3.64 per share. FHI boasts an average earnings surprise of 6.5%.
Investors should take the time to consider FHI for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Federated Hermes, Inc. (FHI) : Free Stock Analysis Report
