Corebridge Financial (CRBG) Set to Announce Earnings on Friday

Corebridge Financial (NYSE:CRBG) will release its earnings data before the market opens on Friday, May 3rd. Analysts expect Corebridge Financial to post earnings of $1.09 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. On average, analysts expect Corebridge Financial to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Corebridge Financial Price Performance

CRBG opened at $26.59 on Wednesday. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.31 and a beta of 0.86. Corebridge Financial has a 1 year low of $14.91 and a 1 year high of $29.40. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92. The stock has a fifty day moving average price of $26.45 and a 200 day moving average price of $23.58.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.46%. Corebridge Financial’s payout ratio is 54.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CRBG shares. Wells Fargo & Company lifted their price objective on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Corebridge Financial in a research report on Friday, April 12th. Keefe, Bruyette & Woods boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group boosted their price target on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Finally, Piper Sandler boosted their price target on Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.08.

Corebridge Financial Company Profile

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities, and retail mutual funds.