Zacks: Analysts Expect Corelogic Inc (CLGX) to Announce $0.80 Earnings Per Share

Equities analysts forecast that Corelogic Inc (NYSE:CLGX) will post earnings per share (EPS) of $0.80 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Corelogic’s earnings. The lowest EPS estimate is $0.75 and the highest is $0.83. Corelogic reported earnings per share of $0.72 in the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The company is expected to issue its next earnings results on Tuesday, July 24th.

On average, analysts expect that Corelogic will report full-year earnings of $2.70 per share for the current financial year, with EPS estimates ranging from $2.65 to $2.75. For the next year, analysts anticipate that the firm will post earnings of $3.02 per share, with EPS estimates ranging from $2.87 to $3.15. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Corelogic.

Corelogic (NYSE:CLGX) last issued its quarterly earnings data on Wednesday, April 25th. The business services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.10. Corelogic had a net margin of 8.89% and a return on equity of 18.27%. The business had revenue of $444.90 million during the quarter, compared to analyst estimates of $435.03 million. During the same period in the prior year, the business earned $0.37 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis.

CLGX has been the subject of several research reports. Zacks Investment Research lowered shares of Corelogic from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. ValuEngine upgraded shares of Corelogic from a “hold” rating to a “buy” rating in a report on Friday, April 27th. Compass Point upgraded shares of Corelogic from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $42.00 to $46.00 in a report on Friday, April 27th. Deutsche Bank set a $33.00 price objective on shares of Corelogic and gave the stock a “sell” rating in a report on Tuesday, February 27th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $52.00 price objective on shares of Corelogic in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $47.89.

NYSE CLGX traded down $0.43 during trading on Friday, hitting $54.31. The company had a trading volume of 368,700 shares, compared to its average volume of 455,884. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 1.96. Corelogic has a one year low of $42.00 and a one year high of $55.79. The firm has a market capitalization of $4.47 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 2.09 and a beta of 0.90.

In related news, Director Mary Lee Widener sold 800 shares of the stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $51.19, for a total value of $40,952.00. Following the completion of the transaction, the director now directly owns 9,944 shares in the company, valued at approximately $509,033.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frank Martell sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $51.13, for a total transaction of $511,300.00. Following the sale, the chief executive officer now owns 292,343 shares of the company’s stock, valued at $14,947,497.59. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CLGX. Lazard Asset Management LLC increased its stake in Corelogic by 70.3% during the 4th quarter. Lazard Asset Management LLC now owns 3,316,386 shares of the business services provider’s stock valued at $153,250,000 after purchasing an additional 1,368,543 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Corelogic by 26.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,525,118 shares of the business services provider’s stock valued at $114,211,000 after purchasing an additional 532,291 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Corelogic by 136.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 629,224 shares of the business services provider’s stock valued at $29,076,000 after purchasing an additional 362,858 shares in the last quarter. Mackay Shields LLC bought a new stake in Corelogic during the 1st quarter valued at about $8,595,000. Finally, BlackRock Inc. increased its stake in Corelogic by 2.3% during the 1st quarter. BlackRock Inc. now owns 7,133,818 shares of the business services provider’s stock valued at $322,663,000 after purchasing an additional 158,953 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

About Corelogic

CoreLogic, Inc provides property information, analytics, and data-enabled services in North America, Western Europe, and the Asia Pacific. The company's Property Intelligence segment owns or licenses loan information, property sales and characteristic information, property risk and replacement cost, natural hazard data, geospatial data, parcel maps, and mortgage-backed securities information.

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