First Horizon Corp (NYSE: FHN) has reported earnings for its second fiscal quarter (ending June 30) of $0.34 versus $0.59 for the same period a year ago — a decline of -42%. This performance was $-0.03 short of the consensus estimate of $0.37. For the latest four quarters through June 30, E.P.S. were $1.21 versus $2.00 for the same period a year ago — a decline of -40%.
Recent Price Action
First Horizon Corp (NYSE: FHN) stock suffered a large decline of -5.8% on 7/17/24. The stock closed at $16.44. Moreover, trading volume in this decline was exceptionally high at 295% of normal. The stock has risen 6.0% during the last week and has been strong relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, FHN is expected to continue to be an important Value Builder.
First Horizon has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. First Horizon has a slightly positive Appreciation Score of 66 and a good Power Rating of 84, leading to the Highest Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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