First Horizon (NYSE:FHN) Issues Quarterly Earnings Results

First Horizon (NYSE:FHN) announced its earnings results on Wednesday. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04, Briefing.com reports. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $821.63 million. First Horizon had a net margin of 14.03% and a return on equity of 8.84%. During the same period in the previous year, the business earned $0.27 EPS.

First Horizon Stock Up 0.3 %

FHN opened at $17.44 on Friday. First Horizon has a twelve month low of $10.16 and a twelve month high of $17.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50 day moving average price of $15.83 and a 200 day moving average price of $15.56. The firm has a market cap of $9.53 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88.

First Horizon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Friday, September 13th. First Horizon’s payout ratio is 41.96%.

Analyst Upgrades and Downgrades

FHN has been the topic of several recent analyst reports. Stephens upped their price target on First Horizon from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday. StockNews.com upgraded First Horizon from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. Wedbush cut shares of First Horizon from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $17.00 in a report on Tuesday, September 24th. Evercore ISI dropped their price objective on shares of First Horizon from $18.50 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $16.00 price target on shares of First Horizon in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.69.

First Horizon Company Profile

First Horizon Corporation operates as the bank holding company for First Horizon Bank that provides various financial services. The company operates through Regional Banking and Specialty Banking segments. It offers general banking services for consumers, businesses, financial institutions, and governments.