Corebridge Financial (CRBG) Set to Announce Earnings on Friday

Corebridge Financial (NYSE:CRBG) is set to issue its quarterly earnings data before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of $1.09 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Thursday, February 15th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the company posted $0.88 earnings per share. Corebridge Financial’s quarterly revenue was up 11.3% on a year-over-year basis. 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 Trading Down 1.2 %

Corebridge Financial stock opened at $26.59 on Wednesday. Corebridge Financial has a 52 week low of $14.91 and a 52 week high of $29.40. The stock has a market capitalization of $16.55 billion, a P/E ratio of 15.73, a PEG ratio of 0.31 and a beta of 0.86. The stock has a 50-day simple moving average of $26.45 and a 200 day simple moving average of $23.58. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14.

Corebridge Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their price objective on Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. The Goldman Sachs Group boosted their price objective on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Evercore ISI boosted their price objective on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Wells Fargo & Company boosted their price target on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.