Wall Street analysts expect First Horizon National (FHN) to post quarterly earnings of $0.41 per share in its upcoming report, which indicates a year-over-year increase of 13.9%. Revenues are expected to be $826.62 million, up 1.4% from the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific First Horizon metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Efficiency Ratio' to come in at 60.5%. Compared to the current estimate, the company reported 61.4% in the same quarter of the previous year.
Analysts forecast 'Net Interest Margin (FTE)' to reach 3.4%. Compared to the current estimate, the company reported 3.4% in the same quarter of the previous year.
Analysts' assessment points toward 'Average Balance - Total interest earning assets' reaching $75.43 billion. Compared to the present estimate, the company reported $75.24 billion in the same quarter last year.
The consensus among analysts is that 'Total nonperforming assets' will reach $629.23 million. Compared to the current estimate, the company reported $582.00 million in the same quarter of the previous year.
It is projected by analysts that the 'Total nonperforming loans and leases' will reach $627.23 million. Compared to the current estimate, the company reported $574.00 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Total Non-Interest Income' should arrive at $189.18 million. Compared to the present estimate, the company reported $186.00 million in the same quarter last year.
The collective assessment of analysts points to an estimated 'Net Interest Income' of $637.47 million. The estimate is in contrast to the year-ago figure of $629.00 million.
According to the collective judgment of analysts, 'Net interest income (FTE)' should come in at $640.73 million. Compared to the present estimate, the company reported $633.00 million in the same quarter last year.
The combined assessment of analysts suggests that 'Service charges and fees' will likely reach $53.02 million. Compared to the current estimate, the company reported $58.00 million in the same quarter of the previous year.
Analysts predict that the 'Other noninterest income' will reach $18.45 million. Compared to the present estimate, the company reported $17.00 million in the same quarter last year.
The average prediction of analysts places 'Mortgage banking' at $9.62 million. Compared to the present estimate, the company reported $10.00 million in the same quarter last year.
The consensus estimate for 'Fixed income' stands at $49.28 million. Compared to the present estimate, the company reported $40.00 million in the same quarter last year.
View all Key Company Metrics for First Horizon here>>>
Shares of First Horizon have demonstrated returns of +11.6% over the past month compared to the Zacks S&P 500 composite's +4.1% change. With a Zacks Rank #3 (Hold), FHN is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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First Horizon Corporation (FHN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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