Corebridge Financial (CRBG) to Release Quarterly 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. Individual interested in participating in the company’s earnings conference call can do so using this link.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Thursday, February 15th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates 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 period last year, the firm posted $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

Shares of NYSE:CRBG opened at $26.76 on Thursday. Corebridge Financial has a 52 week low of $14.91 and a 52 week high of $29.40. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14. The firm’s fifty day moving average is $26.48 and its 200-day moving average is $23.60. The firm has a market cap of $16.66 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.31 and a beta of 0.86.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.44%. Corebridge Financial’s dividend payout ratio (DPR) is presently 54.44%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CRBG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Corebridge Financial in a research note on Friday, April 12th. Morgan Stanley raised their price target on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods upped their target price on shares of 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 upped their price target on Corebridge Financial from $27.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Finally, Piper Sandler increased their price objective on shares of Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Corebridge Financial 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.