The upcoming report from First Horizon National (FHN) is expected to reveal quarterly earnings of $0.46 per share, indicating an increase of 7% compared to the year-ago period. Analysts forecast revenues of $862.19 million, representing an increase of 18.3% year over year.
The consensus EPS estimate for the quarter has undergone an upward revision of 3.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
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 rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some First Horizon metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Efficiency Ratio' should arrive at 59.7%. The estimate is in contrast to the year-ago figure of 62.0%.
The collective assessment of analysts points to an estimated 'Net Interest Margin (FTE)' of 3.4%. The estimate is in contrast to the year-ago figure of 3.3%.
Analysts forecast 'Average Balance - Total interest earning assets' to reach $76.16 billion. The estimate compares to the year-ago value of $75.74 billion.
Analysts predict that the 'Total nonperforming assets' will reach $630.13 million. Compared to the current estimate, the company reported $608.00 million in the same quarter of the previous year.
The average prediction of analysts places 'Total nonperforming loans and leases' at $622.63 million. Compared to the current estimate, the company reported $602.00 million in the same quarter of the previous year.
Analysts' assessment points toward 'Total Non-Interest Income' reaching $209.29 million. The estimate is in contrast to the year-ago figure of $99.00 million.
The consensus estimate for 'Net interest income (FTE)' stands at $659.03 million. Compared to the present estimate, the company reported $634.00 million in the same quarter last year.
According to the collective judgment of analysts, 'Net Interest Income' should come in at $654.83 million. The estimate is in contrast to the year-ago figure of $630.00 million.
View all Key Company Metrics for First Horizon here>>>
Over the past month, First Horizon shares have recorded returns of +3.7% versus the Zacks S&P 500 composite's +1.9% change. Based on its Zacks Rank #2 (Buy), FHN will likely outperform the overall market in the upcoming period. 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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