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Sunday, January 24, 2021

First Horizon National Corporation (NYSE:FHN) on the Path to Profitability

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First Horizon National Corporation (FHN) shares are trading at higher $12.86 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $13.33.

To add more color to this target, the company’s high over the last year is $17.40 and the low is $6.27. Over the last 52 weeks, FHN is down -18.35% while the S&P 500 is up 17.73%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, FHN reported a profit of $532.37 million. First Horizon National Corporation also saw revenues increase to $598.21 million. In addition, FHN has free cash flow of -$308.19 million as of 09-2020.

FHN booked profit margins of 40.80%, its Return on Equity (ROE) is 13.20%, and its Return on Assets is 1.30%. All told, it is clear that, FHN needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. FHN has a short ratio of 3.89 and outstanding shares of 549.69M.

Company Outlook

FHN has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 3.84 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 1.53. Investors should also keep an eye on sector updates as FHN has historically followed its peers on positive news.

All told, First Horizon National Corporation FHN has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FHN represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

First Horizon National Corporation FHN is now commanding a market cap of 7.25B and a float of 546.57M. FHN is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of FHN stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in FHN, either long or short, and we have not been compensated for this article.

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