Prognosticators are forecasting the quarterly earnings of First Tennessee Bank’s parent company will slide back into the red next month when the company releases its third quarter numbers.
The consensus estimate from stock analysts about First Horizon National Corp.’s Q3 numbers is the Memphis-based company will see its earnings dip to a loss of three cents, compared with its Q2 profit of one penny.
The quarterly profit First Horizon achieved between April and June was its first in two years.
While the consensus estimate among 25 analysts following First Horizon is a Q3 loss of 3 cents, there are still variations on both the upside and downside. One analyst estimate, for example, has First Horizon’s loss at 14 cents.
The high estimate for Q3 is First Horizon hitting a quarterly profit of 3 cents.