First Horizon Co. (NYSE:FHN) Expected to Post Earnings of $0.38 Per Share

Brokerages expect First Horizon Co. (NYSE:FHN) to announce $0.38 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for First Horizon’s earnings, with estimates ranging from $0.31 to $0.42. First Horizon posted earnings of $0.46 per share in the same quarter last year, which would suggest a negative year over year growth rate of 17.4%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, January 20th.

According to Zacks, analysts expect that First Horizon will report full year earnings of $1.96 per share for the current year, with EPS estimates ranging from $1.90 to $2.01. For the next fiscal year, analysts anticipate that the business will post earnings of $1.51 per share, with EPS estimates ranging from $1.40 to $1.65. Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for First Horizon.

First Horizon (NYSE:FHN) last posted its earnings results on Tuesday, October 19th. The financial services provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.09. First Horizon had a net margin of 30.55% and a return on equity of 14.67%. The firm had revenue of $739.00 million for the quarter, compared to analysts’ expectations of $744.91 million. During the same quarter last year, the firm earned $0.35 EPS.

FHN has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on shares of First Horizon from $18.50 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, December 6th. Raymond James cut shares of First Horizon from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $20.00 to $19.00 in a research report on Thursday, October 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Horizon has a consensus rating of “Hold” and an average price target of $18.60.

Hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new stake in First Horizon during the 4th quarter valued at $33,000. Fifth Third Bancorp raised its holdings in First Horizon by 159.9% during the 3rd quarter. Fifth Third Bancorp now owns 2,235 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 1,375 shares during the period. Pinnacle Holdings LLC bought a new stake in First Horizon during the 3rd quarter valued at $40,000. O Shaughnessy Asset Management LLC raised its holdings in First Horizon by 98.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,465 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 1,221 shares during the period. Finally, Leelyn Smith LLC bought a new stake in First Horizon during the 2nd quarter valued at $42,000. 79.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Horizon stock traded up $0.17 during mid-day trading on Friday, hitting $18.63. 404,106 shares of the stock were exchanged, compared to its average volume of 4,440,182. First Horizon has a 12 month low of $13.44 and a 12 month high of $19.45. The company has a 50-day simple moving average of $16.80 and a 200 day simple moving average of $16.43. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.96. The company has a market capitalization of $10.23 billion, a P/E ratio of 10.49 and a beta of 1.41.

The business also recently declared a quarterly dividend, which was paid on Monday, January 3rd. Investors of record on Friday, December 10th were issued a $0.15 dividend. The ex-dividend date was Thursday, December 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.22%. First Horizon’s dividend payout ratio (DPR) is presently 34.09%.

First Horizon announced that its board has approved a share repurchase program on Tuesday, October 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 5.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

About First Horizon

First Horizon Corp. (Tennessee) operates as a financial holding company, which engages in the provision of checking accounts, savings products, mortgage banking, lending, and financing to individuals and businesses. It operates the business through four segments: Regional Banking, Specialty Banking, and Corporate.

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Earnings History and Estimates for First Horizon (NYSE:FHN)

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