First Horizon National Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component First Horizon National Corp (NYSE:FHN) will unveil its latest earnings on Friday, July 15, 2011. Through its banking-related subsidiaries, First Horizon National Corp. provides financial services in five business segments.

First Horizon National Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 11 cents per share, a substantial rise from the company’s actual earnings for the same quarter a year ago of one cent per share. During the past three months, the average estimate has moved up from 8 cents. For the year, analysts are projecting profit of 51 cents per share, a swing from net loss of 22 cents last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 15 cents per share against a mean estimate of profit of 4 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 18 cents.

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Wall St. Revenue Expectations: On average, analysts predict $364.7 million in revenue this quarter, a decline of 15.2% from the year ago quarter. Analysts are forecasting total revenue of $1.47 billion for the year, a decline of 13% from last year’s revenue of $1.69 billion.

Analyst Ratings: Analysts seem relatively indifferent about First Horizon National with 14 of 24 analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 13.4% to $405.1 million in first quarter. The figure fell 10.3% in the fourth quarter of the last fiscal year from the year earlier, dropped 12.7% in third quarter of the last fiscal year from the year-ago quarter and 14.5% in the second quarter of the last fiscal year.

Competitors to Watch: Pinnacle Financial Partners (NASDAQ:PNFP), Bank of America Corp. (NYSE:BAC), SunTrust Banks, Inc. (NYSE:STI), Wells Fargo & Company (NYSE:WFC), Green Bankshares, Inc. (NASDAQ:GRNB), First Security Group, Inc. (NASDAQ:FSGI), PNC Financial Services (NYSE:PNC), Cadence Financial Corp. (NASDAQ:CADE), BancorpSouth, Inc. (NYSE:BXS), BB&T Corporation (NYSE:BBT), JPMorgan Chase & Co. (NYSE:JPM), Morgan Stanley (NYSE:MS), Barclays PLC (NYSE:BCS), Goldman Sachs Group, Inc. (NYSE:GS), U.S. Bancorp (NYSE:USB), UBS AG (NYSE:UBS), Deutsche Bank AG (NYSE:DB), and Royal Bank of Scotland Group plc (NYSE:RBS).

Stock Price Performance: During April 13, 2011 to July 11, 2011, the stock price had fallen $1.69 (-15.3%) from $11.01 to $9.32. The stock price saw one of its best stretches over the last year between April 6, 2011, and April 18, 2011, when shares rose for nine-straight days, rising 7.3% (+79 cents) over that span. It saw one of its worst periods between September 22, 2010, and October 1, 2010, when shares fell for eight-straight days, falling 7.5% (-86 cents) over that span. Shares are down $2.44 (-20.7%) year to date.

(Source: Xignite Financials)

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