First Horizon Co. (NYSE:FHN) Expected to Announce Quarterly Sales of $732.44 Million

Brokerages expect First Horizon Co. (NYSE:FHNGet Rating) to announce sales of $732.44 million for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for First Horizon’s earnings. The highest sales estimate is $752.20 million and the lowest is $714.00 million. First Horizon reported sales of $782.00 million in the same quarter last year, which indicates a negative year over year growth rate of 6.3%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that First Horizon will report full-year sales of $2.97 billion for the current financial year, with estimates ranging from $2.90 billion to $3.07 billion. For the next year, analysts forecast that the company will report sales of $3.22 billion, with estimates ranging from $3.07 billion to $3.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow First Horizon.

First Horizon (NYSE:FHNGet Rating) last issued its earnings results on Tuesday, April 19th. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. First Horizon had a net margin of 30.72% and a return on equity of 13.82%. The company had revenue of $707.00 million during the quarter, compared to the consensus estimate of $707.92 million. During the same quarter in the prior year, the firm posted $0.51 EPS.

Several brokerages recently issued reports on FHN. Jefferies Financial Group cut First Horizon from a “buy” rating to a “hold” rating and increased their price objective for the stock from $22.00 to $25.00 in a research note on Monday, March 7th. Keefe, Bruyette & Woods cut shares of First Horizon from an “outperform” rating to a “market perform” rating and increased their target price for the company from $21.00 to $25.00 in a research report on Monday, March 7th. Janney Montgomery Scott downgraded First Horizon from a “buy” rating to a “neutral” rating in a report on Tuesday, March 1st. Wells Fargo & Company downgraded First Horizon from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 1st. Finally, StockNews.com cut shares of First Horizon from a “hold” rating to a “sell” rating in a research note on Friday, April 15th. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.63.

NYSE:FHN opened at $21.72 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. First Horizon has a 12 month low of $14.67 and a 12 month high of $24.24. The business’s 50-day moving average is $22.95 and its 200 day moving average is $19.46. The company has a market capitalization of $11.61 billion, a P/E ratio of 12.93, a P/E/G ratio of 2.83 and a beta of 1.14.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 10th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $0.60 dividend on an annualized basis and a yield of 2.76%. First Horizon’s dividend payout ratio (DPR) is presently 35.71%.

In other First Horizon news, EVP Terry Lawson Akins sold 39,904 shares of First Horizon stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $22.75, for a total transaction of $907,816.00. Following the completion of the transaction, the executive vice president now owns 134,615 shares in the company, valued at $3,062,491.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.55% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FHN. Guggenheim Capital LLC grew its stake in First Horizon by 2.9% during the third quarter. Guggenheim Capital LLC now owns 1,144,669 shares of the financial services provider’s stock worth $18,647,000 after buying an additional 32,421 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in First Horizon during the 3rd quarter worth approximately $178,000. Handelsbanken Fonder AB raised its stake in shares of First Horizon by 7.1% in the 4th quarter. Handelsbanken Fonder AB now owns 1,502,919 shares of the financial services provider’s stock valued at $24,543,000 after purchasing an additional 100,000 shares in the last quarter. TPG Financial Advisors LLC raised its position in shares of First Horizon by 55.5% during the 4th quarter. TPG Financial Advisors LLC now owns 19,177 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 6,847 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new position in First Horizon during the 4th quarter worth $101,000. 79.64% of the stock is currently owned by institutional investors and hedge funds.

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

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