$441.74 Million in Sales Expected for First Horizon National Corp (FHN) This Quarter

Equities research analysts expect First Horizon National Corp (NYSE:FHN) to post sales of $441.74 million for the current quarter, Zacks reports. Seven analysts have made estimates for First Horizon National’s earnings, with the highest sales estimate coming in at $444.80 million and the lowest estimate coming in at $436.53 million. First Horizon National posted sales of $438.46 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, July 16th.

On average, analysts expect that First Horizon National will report full-year sales of $1.78 billion for the current year, with estimates ranging from $1.76 billion to $1.79 billion. For the next financial year, analysts expect that the company will post sales of $1.83 billion, with estimates ranging from $1.77 billion to $1.88 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover First Horizon National.

First Horizon National (NYSE:FHN) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.35 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.35. First Horizon National had a net margin of 23.95% and a return on equity of 10.02%. The firm had revenue of $435.60 million for the quarter, compared to analyst estimates of $428.95 million. During the same period in the previous year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year.

Several equities research analysts recently commented on FHN shares. Zacks Investment Research upgraded First Horizon National from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. TheStreet upgraded First Horizon National from a “c+” rating to a “b-” rating in a report on Friday, March 1st. Stephens reiterated a “neutral” rating on shares of First Horizon National in a report on Tuesday, April 16th. Bank of America downgraded First Horizon National from a “neutral” rating to an “underperform” rating in a report on Tuesday, January 22nd. They noted that the move was a valuation call. Finally, ValuEngine downgraded First Horizon National from a “sell” rating to a “strong sell” rating in a report on Thursday, March 21st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.00.

In other First Horizon National news, EVP Susan L. Springfield sold 29,625 shares of First Horizon National stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $14.89, for a total value of $441,116.25. Following the sale, the executive vice president now owns 161,006 shares of the company’s stock, valued at approximately $2,397,379.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.88% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FHN. Buffington Mohr McNeal purchased a new stake in First Horizon National in the 1st quarter valued at approximately $30,000. Old North State Trust LLC increased its position in First Horizon National by 643.1% during the first quarter. Old North State Trust LLC now owns 2,378 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 2,058 shares during the period. Trustcore Financial Services LLC bought a new position in First Horizon National during the first quarter worth about $41,000. Enlightenment Research LLC bought a new position in First Horizon National during the fourth quarter worth about $50,000. Finally, Toronto Dominion Bank bought a new position in First Horizon National during the fourth quarter worth about $73,000. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:FHN traded down $0.07 on Friday, hitting $14.75. 58,290 shares of the company traded hands, compared to its average volume of 3,133,143. First Horizon National has a 52 week low of $12.30 and a 52 week high of $19.75. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.93. The company has a market capitalization of $4.83 billion, a PE ratio of 10.44, a PEG ratio of 1.65 and a beta of 1.20.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Thursday, June 13th. First Horizon National’s payout ratio is 39.72%.

About First Horizon National

First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.

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

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