Wall Street analysts expect Corebridge Financial (CRBG) to post quarterly earnings of $1.11 per share in its upcoming report, which indicates a year-over-year decline of 9.8%. Revenues are expected to be $5.06 billion, up 0.9% from the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Corebridge metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Premiums' stands at $1.30 billion. The estimate indicates a change of +13.9% from the prior-year quarter.
According to the collective judgment of analysts, 'Total Corebridge- Advisory fee and other income' should come in at $107.71 million. The estimate suggests a change of -48.7% year over year.
Analysts forecast 'Policy fees' to reach $620.41 million. The estimate indicates a year-over-year change of -15.9%.
Analysts expect 'Total Corebridge- Net investment income' to come in at $3.06 billion. The estimate indicates a change of +6.3% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenue- Life Insurance' will likely reach $1.08 billion. The estimate points to a change of +0.5% from the year-ago quarter.
The average prediction of analysts places 'Revenue- Individual Retirement' at $1.68 billion. The estimate indicates a year-over-year change of -7.5%.
Based on the collective assessment of analysts, 'Revenue- Corporate & Other' should arrive at $38.67 million. The estimate indicates a year-over-year change of -63.2%.
The consensus among analysts is that 'Assets Under Management and Administration (AUMA) - Individual Retirement' will reach $122.13 billion. The estimate compares to the year-ago value of $160.13 billion.
The collective assessment of analysts points to an estimated 'Assets Under Management and Administration (AUMA) - Group Retirement' of $130.28 billion. The estimate compares to the year-ago value of $124.30 billion.
It is projected by analysts that the 'Assets Under Management and Administration (AUMA) - Institutional Markets' will reach $103.85 billion. Compared to the current estimate, the company reported $93.11 billion in the same quarter of the previous year.
Analysts' assessment points toward 'Assets Under Management and Administration (AUMA) - Total' reaching $383.80 billion. The estimate is in contrast to the year-ago figure of $404.00 billion.
Analysts predict that the 'Assets Under Management and Administration (AUMA) - Life Insurance' will reach $27.55 billion. The estimate is in contrast to the year-ago figure of $26.47 billion.
View all Key Company Metrics for Corebridge here>>>
Corebridge shares have witnessed a change of -3% in the past month, in contrast to the Zacks S&P 500 composite's +0.9% move. With a Zacks Rank #5 (Strong Sell), CRBG is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Corebridge Financial, Inc. (CRBG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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