Regional banking company First Horizon (NYSE: FHN) will be reporting earnings this Wednesday before the bell. Here’s what to expect.
First Horizon missed analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $812 million, flat year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ tangible book value per share estimates.
Is First Horizon a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting First Horizon’s revenue to grow 1.6% year on year to $827.7 million, a reversal from the 21% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.42 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 6 downward revisions over the last 30 days (we track 7 analysts). First Horizon has missed Wall Street’s revenue estimates four times over the last two years.
Looking at First Horizon’s peers in the banks segment, only FB Financial has reported results so far. It missed analysts’ revenue estimates by 43.5%, posting year-on-year sales declines of 40.1%.
Read our full analysis of FB Financial’s earnings results here.There has been positive sentiment among investors in the banks segment, with share prices up 11.6% on average over the last month. First Horizon is up 11.8% during the same time and is heading into earnings with an average analyst price target of $23.75 (compared to the current share price of $21.75).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
