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Corebridge Financial (CRBG) Exceeds Market Returns: Some Facts to Consider
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Corebridge Financial (CRBG - Free Report) closed the most recent trading day at $24.17, moving +0.79% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.02%.
Shares of the financial services company witnessed a gain of 10.25% over the previous month, beating the performance of the Finance sector with its gain of 0.69% and the S&P 500's gain of 3.52%.
The investment community will be paying close attention to the earnings performance of Corebridge Financial in its upcoming release. On that day, Corebridge Financial is projected to report earnings of $0.99 per share, which would represent year-over-year growth of 12.5%. Meanwhile, our latest consensus estimate is calling for revenue of $5.17 billion, down 3.24% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Corebridge Financial. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Corebridge Financial is currently a Zacks Rank #3 (Hold).
Looking at valuation, Corebridge Financial is presently trading at a Forward P/E ratio of 4.88. Its industry sports an average Forward P/E of 8.49, so one might conclude that Corebridge Financial is trading at a discount comparatively.
Investors should also note that CRBG has a PEG ratio of 0.29 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Insurance - Multi line stocks are, on average, holding a PEG ratio of 1.2 based on yesterday's closing prices.
The Insurance - Multi line industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 62, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Exceeds Market Returns: Some Facts to Consider
Corebridge Financial (CRBG - Free Report) closed the most recent trading day at $24.17, moving +0.79% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.02%.
Shares of the financial services company witnessed a gain of 10.25% over the previous month, beating the performance of the Finance sector with its gain of 0.69% and the S&P 500's gain of 3.52%.
The investment community will be paying close attention to the earnings performance of Corebridge Financial in its upcoming release. On that day, Corebridge Financial is projected to report earnings of $0.99 per share, which would represent year-over-year growth of 12.5%. Meanwhile, our latest consensus estimate is calling for revenue of $5.17 billion, down 3.24% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Corebridge Financial. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Corebridge Financial is currently a Zacks Rank #3 (Hold).
Looking at valuation, Corebridge Financial is presently trading at a Forward P/E ratio of 4.88. Its industry sports an average Forward P/E of 8.49, so one might conclude that Corebridge Financial is trading at a discount comparatively.
Investors should also note that CRBG has a PEG ratio of 0.29 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Insurance - Multi line stocks are, on average, holding a PEG ratio of 1.2 based on yesterday's closing prices.
The Insurance - Multi line industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 62, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.