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Corebridge Financial (CRBG) Increases Despite Market Slip: Here's What You Need to Know
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The latest trading session saw Corebridge Financial (CRBG - Free Report) ending at $24.63, denoting a +0.78% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.06%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, lost 0.76%.
The financial services company's shares have seen an increase of 12.84% over the last month, surpassing the Finance sector's loss of 1.67% and the S&P 500's gain of 3.36%.
The upcoming earnings release of Corebridge Financial will be of great interest to investors. The company's earnings report is expected on February 15, 2024. The company's upcoming EPS is projected at $0.99, signifying a 12.5% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.42 billion, indicating a 1.42% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for Corebridge Financial. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.37% higher. At present, Corebridge Financial boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Corebridge Financial is at present trading with a Forward P/E ratio of 4.96. This signifies a discount in comparison to the average Forward P/E of 8.79 for its industry.
Also, we should mention that CRBG has a PEG ratio of 0.29. 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. The Insurance - Multi line industry currently had an average PEG ratio of 1.21 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. With its current Zacks Industry Rank of 173, this industry ranks in the bottom 32% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Corebridge Financial (CRBG) Increases Despite Market Slip: Here's What You Need to Know
The latest trading session saw Corebridge Financial (CRBG - Free Report) ending at $24.63, denoting a +0.78% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.06%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, lost 0.76%.
The financial services company's shares have seen an increase of 12.84% over the last month, surpassing the Finance sector's loss of 1.67% and the S&P 500's gain of 3.36%.
The upcoming earnings release of Corebridge Financial will be of great interest to investors. The company's earnings report is expected on February 15, 2024. The company's upcoming EPS is projected at $0.99, signifying a 12.5% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.42 billion, indicating a 1.42% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for Corebridge Financial. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.37% higher. At present, Corebridge Financial boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Corebridge Financial is at present trading with a Forward P/E ratio of 4.96. This signifies a discount in comparison to the average Forward P/E of 8.79 for its industry.
Also, we should mention that CRBG has a PEG ratio of 0.29. 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. The Insurance - Multi line industry currently had an average PEG ratio of 1.21 as of yesterday's close.
The Insurance - Multi line industry is part of the Finance sector. With its current Zacks Industry Rank of 173, this industry ranks in the bottom 32% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.