First Horizon Corporation's Upcoming Earnings Release
First Horizon Corporation (NYSE: FHN) is set to unveil its earnings results for the upcoming quarter. Analysts are eagerly anticipating what the Memphis-based company will report.
Quarterly Earnings Expectations
For the third quarter, analysts forecast First Horizon will report earnings of 45 cents per share. This marks an increase from 42 cents per share recorded in the same quarter last year. Revenue projections also appear optimistic, with expectations of reaching approximately $847.99 million, compared to last year’s $832 million.
Leadership Changes in the Company
Recently, First Horizon announced the appointment of Shaun McDougall as the new Head of Consumer Banking. This development could signal strategic changes within the organization as they focus on expanding their consumer banking services.
Current Stock Performance
On the previous trading day, First Horizon shares experienced a slight gain of 0.9%, closing at $22.45. This reflects a steady interest in the stock, which investors are closely monitoring ahead of the earnings announcement.
Analyst Ratings and Price Target Changes
As part of the evaluation leading up to the earnings call, several analysts have revised their ratings and price targets for First Horizon. Here’s a summary of the significant changes:
- Barclays analyst Jared Shaw has maintained an Overweight rating on FHN and has increased the price target from $26 to $29.
- Evercore ISI analyst John Pancari holds an Outperform rating with a raised price target, now at $26 from the previous $25.
- Wells Fargo's Timur Braziler has an Equal-Weight rating and has updated the price target from $23 to $25.
- DA Davidson’s Peter Winter initiated coverage with a Neutral rating at a price target of $24.
- John McDonald from Truist Securities has a Hold rating and has slightly raised the price target from $23 to $24.
Investor Considerations
For those considering investing in FHN, it’s crucial to review the current analyst sentiment. With many rating changes reflecting an optimistic outlook, investors might find this a favorable window for evaluation.
Frequently Asked Questions
What is First Horizon Corporation's stock ticker?
The stock ticker for First Horizon Corporation is FHN.
When will First Horizon release its earnings?
First Horizon is expected to release its third-quarter earnings results shortly.
What are analysts' earnings expectations for First Horizon?
Analysts expect First Horizon to report earnings of 45 cents per share for the upcoming quarter.
Who is the new Head of Consumer Banking at First Horizon?
Shaun McDougall has recently been appointed as the Head of Consumer Banking at First Horizon.
What is the current price of First Horizon's stock?
First Horizon's stock closed at $22.45 recently, reflecting a slight increase.
