First Horizon National Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component First Horizon National (NYSE:FHN) will unveil its latest earnings on Friday, July 20, 2012. First Horizon National, through its banking-related subsidiaries, provides financial services.

First Horizon National Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for a loss of 50 cents per share, a spike from net income of 16 cents in the year-ago quarter. During the past three months, the average estimate has moved down from 14 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 12 cents during the last month. Analysts are projecting profit to rise by 89.4% versus last year to 5 cents.

Past Earnings Performance: For the past three quarters, the company’s quarterly results have come in below analyst’s expectations. Last quarter, the company reported profit of 12 cents per share versus a mean estimate of net income of 13 cents per share.

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A Look Back: In the first quarter, profit fell 24% to $30.5 million (12 cents a share) from $40.2 million (15 cents a share) the year earlier, missing analyst expectations. Revenue fell 0.3% to $403.9 million from $405.1 million.

Stock Price Performance: From June 15, 2012 to July 16, 2012, the stock price rose 61 cents (7.5%), from $8.09 to $8.70. The stock price saw one of its best stretches over the last year between December 30, 2011 and January 11, 2012, when shares rose for eight straight days, increasing 9.5% (+76 cents) over that span. It saw one of its worst periods between May 10, 2012 and May 18, 2012 when shares fell for seven straight days, dropping 7.2% (-65 cents) over that span.

Analyst Ratings: With nine analysts rating the stock as a buy, two rating it as a sell and nine rating it as a hold, there are indications of a bullish outlook.

Key Stats:

The company is looking to get back on track with this earnings announcement after a profit drop last quarter snapped a positive string of results. Net income rose 13.4% in the second quarter of the last fiscal year, 17.1% in the third quarter of the last fiscal year and more than twofold in the fourth quarter of the last fiscal year before declining in the first quarter.

On the top line, the company is hoping to use this earnings announcement to snap a string of four-straight quarters of revenue decreases. Revenue fell 15.6% in the second quarter of the last fiscal year, 8.9% in third quarter of the last fiscal year and 8.7% in the fourth quarter of the last fiscal year and then fell again in the first quarter.

Wall St. Revenue Expectations: Analysts predict a decline of 0.8% in revenue from the year-earlier quarter to $358.6 million.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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