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First Horizon Corporation Prepares to Report Earnings Amid Flat Revenue Expectations

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FHN$22.77 −1.26%

First Horizon Corporation (NYSE:FHN) will release its quarterly earnings report this Thursday morning before trading opens. Shares of the regional lender traded down 1.26% to $22.77, amid broader pressure on banking stocks that has seen the sector decline over the past month. Analysts expect revenue for the quarter to remain flat year over year, marking a slowdown from the 7.5% revenue growth recorded in the same period last year.

The upcoming report follows a mixed previous quarter where First Horizon reported $890 million in revenue, up 6.7% from a year earlier, topping revenue expectations but slightly missing estimates for net interest income. Recent reports from banking peers have shown varied results, as FB Financial Corporation posted flat revenue and missed consensus figures, while Citigroup Inc. delivered a 7.9% increase in revenue. First Horizon has missed Wall Street revenue estimates several times over the prior two years, making top-line performance a focus for investors.

Wall Street analysts covering First Horizon have mostly maintained their estimates over the past 30 days, indicating expectations that the bank will hold steady. Wall Street maintains an average price target of $27.17 for the stock. Investors will be observing whether First Horizon can match top-line forecasts and navigate ongoing sector headwinds when financial results are delivered on Thursday.

Key points

  • First Horizon Corporation will publish its quarterly financial results on Thursday morning before market open.
  • Analysts project flat year-over-year revenue for the quarter, compared to 7.5% growth in the prior-year period.
  • The company previously posted $890 million in revenue for the preceding quarter, a 6.7% year-over-year increase.
  • First Horizon shares fell 1.26% to $22.77, while the bank holds an average analyst price target of $27.17.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

When will First Horizon report its quarterly earnings?

First Horizon Corporation will announce its earnings results on Thursday morning before the market opens.

What are analysts expecting for First Horizon's revenue this quarter?

Wall Street expects First Horizon's revenue to be flat year on year, slowing from the 7.5% increase recorded in the same quarter last year.

What is the analyst price target for First Horizon stock?

Analysts hold an average price target of $27.17 for First Horizon Corporation stock, compared to its recent share price of $22.77.