Wall Street analysts expect First Horizon National (FHN) to post quarterly earnings of $0.49 per share in its upcoming report, which indicates a year-over-year increase of 16.7%. Revenues are expected to be $866.27 million, up 6.7% from the year-ago quarter.
The current level reflects an upward revision of 0.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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.
Analysts predict that the 'Efficiency Ratio' will reach 59.2%. The estimate compares to the year-ago value of 60.1%.
Analysts forecast 'Average Balance - Total interest earning assets' to reach $77.15 billion. The estimate compares to the year-ago value of $74.79 billion.
Analysts' assessment points toward 'Net Interest Margin (FTE)' reaching 3.5%. The estimate compares to the year-ago value of 3.4%.
The combined assessment of analysts suggests that 'Total nonperforming loans and leases' will likely reach $602.00 million. The estimate compares to the year-ago value of $609.00 million.
Based on the collective assessment of analysts, 'Net Interest Income' should arrive at $658.33 million. The estimate compares to the year-ago value of $631.00 million.
The consensus estimate for 'Total Non-Interest Income' stands at $207.71 million. Compared to the current estimate, the company reported $181.00 million in the same quarter of the previous year.
The average prediction of analysts places 'Net interest income (FTE)' at $656.03 million. The estimate is in contrast to the year-ago figure of $634.00 million.
View all Key Company Metrics for First Horizon here>>>Shares of First Horizon have experienced a change of +10.2% in the past month compared to the +0.5% move of the Zacks S&P 500 composite. 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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This article originally published on Zacks Investment Research (zacks.com).