Zacks: Analysts Expect First Horizon Co. (NYSE:FHN) Will Post Earnings of $0.37 Per Share

Equities analysts expect First Horizon Co. (NYSE:FHN – Get Rating) to announce earnings per share (EPS) of $0.37 for the current fiscal quarter, according to Zacks. Six analysts have made estimates for First Horizon’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.42. First Horizon reported earnings of $0.58 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 36.2%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that First Horizon will report full-year earnings of $1.51 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.70. For the next year, analysts expect that the business will post earnings of $1.78 per share, with EPS estimates ranging from $1.55 to $2.02. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover First Horizon.

First Horizon (NYSE:FHN – Get Rating) last announced its earnings results on Tuesday, April 19th. The financial services provider reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. First Horizon had a net margin of 30.85% and a return on equity of 14.69%. During the same period in the prior year, the company earned $0.51 EPS.

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company downgraded shares of First Horizon from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 1st. StockNews.com downgraded shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Friday, April 15th. Wedbush downgraded shares of First Horizon from an “outperform” rating to a “neutral” rating in a research note on Monday, February 28th. Hovde Group downgraded shares of First Horizon from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 2nd. Finally, Jefferies Financial Group downgraded shares of First Horizon from a “buy” rating to a “hold” rating and raised their price target for the stock from $22.00 to $25.00 in a research note on Monday, March 7th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.63.

Shares of FHN traded down $0.09 during midday trading on Thursday, hitting $23.03. The stock had a trading volume of 3,401,467 shares, compared to its average volume of 9,366,123. First Horizon has a 1 year low of $14.67 and a 1 year high of $24.24. The firm has a market cap of $12.30 billion, a PE ratio of 13.24 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.95 and a quick ratio of 0.94. The stock’s 50 day moving average is $22.14 and its 200 day moving average is $18.79.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, March 11th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, March 10th. First Horizon’s dividend payout ratio (DPR) is 34.48%.

In other First Horizon news, Chairman Daryl G. Byrd sold 155,328 shares of the firm’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $17.27, for a total transaction of $2,682,514.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.55% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FHN. JPMorgan Chase & Co. boosted its holdings in shares of First Horizon by 124.8% in the 4th quarter. JPMorgan Chase & Co. now owns 28,872,551 shares of the financial services provider’s stock valued at $471,488,000 after buying an additional 16,028,243 shares in the last quarter. Norges Bank bought a new stake in shares of First Horizon in the 4th quarter valued at about $82,839,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of First Horizon by 20.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 22,998,226 shares of the financial services provider’s stock valued at $374,641,000 after buying an additional 3,913,466 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of First Horizon by 48.0% in the 3rd quarter. Invesco Ltd. now owns 8,038,669 shares of the financial services provider’s stock valued at $130,948,000 after buying an additional 2,608,767 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of First Horizon by 3.8% in the 4th quarter. BlackRock Inc. now owns 61,543,301 shares of the financial services provider’s stock valued at $1,005,002,000 after buying an additional 2,274,413 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

First Horizon Company Profile (Get Rating)

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through three segments: Regional Banking, Specialty Banking, and Corporate. It offers general banking services for consumers, businesses, financial institutions, and governments.

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