First Horizon Corporation [NYSE: FHN] will report earnings after markets close on Friday, January 22nd.
FHN Earnings Forecast For The Current Quarter
First Horizon Corporation [FHN] is expected to report weak earnings results for the quarter ending in Dec 2020. Consensus estimates give the company expected revenues of $783.28M and earnings per share of $0.33 for Dec 2020. Looking further ahead, the company is expected to report revenue of $769.26M at an EPS of $0.32 for Mar 2021. The estimates represent an upside of 6.50% and 40.15% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
FHN Earnings Estimates For The Current Year
For the financial year, First Horizon Corporation [NYSE: FHN] is expected to bring in revenue of $2.86B. The returns are nearly $1000.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for 2020, the estimate put it at 0.94, lower than that of FY19 by -$0.72. Estimates put this year’s earnings growth at -43.40%, 40.40% for the next, and at an annual 9.50% over the next 5-year period. As for sales, forecasts are for an increase of 53.30% in the current fiscal year and a further 6.50% over the following year.
FHN Price Performance
On Wall Street, First Horizon Corporation [NYSE: FHN] finished Wednesday’s session down -2.33% at $14.70. The stock went up to $15.06 at the same session while its lowest single-day price was $14.65. In the last five days, it saw a fall of about -3.42%, First Horizon Corporation shares gained by almost 15.20% since the beginning of the year. However, the share price has dropped to as low as -15.52% below its one year high. On 01/14/21, the company shares recorded $15.48, the highest single-day price it has got to in the last 52-weeks, and a 52-week low was seen on 01/04/21, the same year at $12.55. The company’s shares have declined by -13.98% in the past year. The 50-day SMA achieved is $13.01 while the 200-day SMA is $10.39. Volume gained to 6.04 million from 3.08 million in the previous session.
First Horizon Corporation [FHN] Valuation Measures
Notably, First Horizon Corporation [FHN] stock can be classified as a good candidate in the listing of underestimated low-priced Banks – Regional companies to purchase as soonest possible with the prevailing 12-month PE ratio of 9.62. The measure means the stock is exchanging at a discount as compared to the 12.10x trailing earnings of the industry. It can be helpful for investors to consider the historical price-sales ratio, more specifically, a 4.86 PS value ratio is reported for the last year of reported earnings. That is higher than the industry average of 2.51 which means FHN serves as an attractive investment opportunity compared to its competitors.
FHN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 14.70 level, and in case of violation of this particular level, it will cause more drop to 14.55 level. On the upper level, 15.37 is still the key resistance. The stock may increase to the subsequent resistance at 15.21. The Relative Strength Index (RSI) pinned on the 14-day chart is 61.63, implying a neutral technical stance while the MACD stands at 0.57, meaning the price will decrease in the next trading period. Percent R indicator moved to 26.62%, implying bullish price movement. Stochastic %K at 81.28% suggest selling the stock.
Is First Horizon Corporation [NYSE: FHN] a Good Buy Right Now?
It should be noted that FHN technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from First Horizon Corporation’s Trend Spotter indicated that the signals were Weakest. The stock current average is 4.73 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 5.23 million shares while the medium-term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 5.36 million shares.
What is the short interest in First Horizon Corporation?
Short interest in the First Horizon Corporation stock has surged, increasing by 2.91 million shares to a total of 14.8 million shares on Dec 30, 2020. The interest had seen shares on Nov 29, 2020, stand at 17.71 million, data from Yahoo Finance shows. The decrease of -19.66% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 3.07% of the overall float for the stock.
First Horizon Corporation’s Biggest Shareholders: Who Owns First Horizon Corporation [FHN]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 52,581,017 shares, or roughly 9.48% of the outstanding FHN shares. This means their shares have reduced by -809,070 from the 52,581,017 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $577,965,412. Details in the latest 13F filings reveal that Fidelity Management & Research Co acquired their 26.31% stake valued at $293,577,193 while Dimensional Fund Advisors LP added theirs at $270,852,692. During the last quarter, Fidelity Management & Research Co raised 4,792,853 of its shares in First Horizon Corporation while Dimensional Fund Advisors LP bought 573,516 shares. The Citadel Advisors LLC’s holdings currently number 20,017,893 shares at $294263027.1. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 19,109,272 shares, roughly $243,834,311.
What are analyst thoughts on First Horizon Corporation?
Looking forward to the First Horizon Corporation share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for First Horizon Corporation stock at $16.50 within the next 12 months, which represents almost 10.91 percent growth from its previous closing price of $14.70. The highest analysts’ target for First Horizon Corporation stock projections is $20.00 and the lowest one is $14.00. Still, 15 analysts sharing their consensus rating for FHN stock in 2021 agree that it is a Buy.