F&G Annuities & Life Inc (FG) saw its shares plummet 5.20% during intraday trading on Friday, following the release of its quarterly earnings report.
The company reported adjusted earnings of $0.91 per share for the quarter ended December 31, which fell short of the average analyst estimate of $1.20 per share. While revenue surged 47.8% year-over-year to $2.30 billion, surpassing the $1.55 billion expectation, the significant earnings miss appears to have driven the negative market reaction.
According to the earnings summary, F&G's shares had already declined by 10.3% during the quarter, and the mean earnings estimate from analysts had fallen by approximately 10.3% over the last three months. The current consensus analyst rating on the stock is "hold," with a median 12-month price target of $32.00.
Comments