First Horizon National Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component First Horizon National (NYSE:FHN) will unveil its latest earnings on Friday, October 19, 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 net income of 18 cents per share, a rise of 50% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 21 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 18 cents during the last month.

Past Earnings Performance: Last quarter, the company showed a loss of 50 cents per share in the second quarter to fall in line with expectations, the company beat estimates by one cent in the first quarter. This comes after the company failed to meet analysts’ expectations in the previous two.

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A Look Back: In the second quarter, the company swung to a loss of $124.8 million (50 cents a share) from a profit of $20 million (8 cents) a year earlier, meeting analyst expectations. Revenue fell 9.1% to $359.6 million from $395.5 million.

Stock Price Performance: Between July 20, 2012 and October 15, 2012, the stock price rose $1.50 (18.5%), from $8.09 to $9.59. The stock price saw one of its best stretches over the last year between August 31, 2012 and September 14, 2012, when shares rose for 10 straight days, increasing 14.2% (+$1.27) 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.

Wall St. Revenue Expectations: Analysts predict a decline of 14.5% in revenue from the year-earlier quarter to $339.7 million.

Key Stats:

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 8.9% in the third quarter of the last fiscal year, 8.7% in fourth quarter of the last fiscal year and 0.3% in the first quarter and then fell again in the second quarter.

Analyst Ratings: With eight analysts rating the stock as a buy, two rating it as a sell and 10 rating it as a hold, there are indications of a bullish outlook.

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

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