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Corebridge Financial (CRBG) Ascends While Market Falls: Some Facts to Note
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Corebridge Financial (CRBG - Free Report) closed at $27.54 in the latest trading session, marking a +0.04% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.14% for the day. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq gained 0.17%.
Heading into today, shares of the financial services company had gained 9.12% over the past month, outpacing the Finance sector's gain of 4.92% and the S&P 500's gain of 5.34% in that time.
Market participants will be closely following the financial results of Corebridge Financial in its upcoming release. The company is expected to report EPS of $1.11, up 14.43% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $5.6 billion, indicating a 4.38% growth compared to the corresponding quarter of the prior year.
CRBG's full-year Zacks Consensus Estimates are calling for earnings of $4.97 per share and revenue of $23.36 billion. These results would represent year-over-year changes of +21.22% and +25.33%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Corebridge Financial. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1% lower. As of now, Corebridge Financial holds a Zacks Rank of #3 (Hold).
In terms of valuation, Corebridge Financial is presently being traded at a Forward P/E ratio of 5.54. This denotes a discount relative to the industry's average Forward P/E of 9.79.
Investors should also note that CRBG has a PEG ratio of 0.3 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Insurance - Multi line industry had an average PEG ratio of 1.2.
The Insurance - Multi line industry is part of the Finance sector. With its current Zacks Industry Rank of 37, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Corebridge Financial (CRBG) Ascends While Market Falls: Some Facts to Note
Corebridge Financial (CRBG - Free Report) closed at $27.54 in the latest trading session, marking a +0.04% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.14% for the day. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq gained 0.17%.
Heading into today, shares of the financial services company had gained 9.12% over the past month, outpacing the Finance sector's gain of 4.92% and the S&P 500's gain of 5.34% in that time.
Market participants will be closely following the financial results of Corebridge Financial in its upcoming release. The company is expected to report EPS of $1.11, up 14.43% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $5.6 billion, indicating a 4.38% growth compared to the corresponding quarter of the prior year.
CRBG's full-year Zacks Consensus Estimates are calling for earnings of $4.97 per share and revenue of $23.36 billion. These results would represent year-over-year changes of +21.22% and +25.33%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Corebridge Financial. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1% lower. As of now, Corebridge Financial holds a Zacks Rank of #3 (Hold).
In terms of valuation, Corebridge Financial is presently being traded at a Forward P/E ratio of 5.54. This denotes a discount relative to the industry's average Forward P/E of 9.79.
Investors should also note that CRBG has a PEG ratio of 0.3 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Insurance - Multi line industry had an average PEG ratio of 1.2.
The Insurance - Multi line industry is part of the Finance sector. With its current Zacks Industry Rank of 37, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.