Zacks: Brokerages Expect Corelogic Inc (CLGX) to Post $0.47 EPS

Brokerages expect Corelogic Inc (NYSE:CLGX) to report earnings per share of $0.47 for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Corelogic’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.44. Corelogic reported earnings of $0.55 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 14.5%. The business is expected to report its next quarterly earnings results on Monday, February 25th.

According to Zacks, analysts expect that Corelogic will report full-year earnings of $2.72 per share for the current year, with EPS estimates ranging from $2.69 to $2.75. For the next fiscal year, analysts expect that the firm will report earnings of $2.83 per share, with EPS estimates ranging from $2.64 to $3.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Corelogic.

Corelogic (NYSE:CLGX) last issued its earnings results on Wednesday, October 24th. The business services provider reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). The business had revenue of $451.77 million for the quarter, compared to analyst estimates of $476.84 million. Corelogic had a return on equity of 19.41% and a net margin of 9.46%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the company posted $0.72 earnings per share.

A number of brokerages have weighed in on CLGX. Zacks Investment Research raised shares of Corelogic from a “hold” rating to a “strong-buy” rating and set a $58.00 target price on the stock in a report on Friday, July 27th. Piper Jaffray Companies dropped their price objective on shares of Corelogic from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Friday, July 27th. Oppenheimer dropped their price objective on shares of Corelogic from $53.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Compass Point dropped their price objective on shares of Corelogic from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Finally, Deutsche Bank set a $45.00 price objective on shares of Corelogic and gave the stock a “hold” rating in a report on Thursday, October 25th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Corelogic currently has a consensus rating of “Hold” and an average price target of $49.60.

Shares of NYSE:CLGX opened at $39.80 on Friday. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.53 and a beta of 0.68. Corelogic has a 1-year low of $37.89 and a 1-year high of $55.79. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.37 and a current ratio of 1.37.

In related news, CEO Frank Martell sold 10,000 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $40.04, for a total value of $400,400.00. Following the completion of the transaction, the chief executive officer now owns 272,343 shares in the company, valued at approximately $10,904,613.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barry M. Sando sold 16,700 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $50.03, for a total transaction of $835,501.00. Following the completion of the transaction, the director now owns 158,246 shares of the company’s stock, valued at approximately $7,917,047.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,123 shares of company stock worth $1,617,903. Corporate insiders own 1.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CLGX. Millennium Management LLC grew its position in Corelogic by 3,339.7% in the 2nd quarter. Millennium Management LLC now owns 310,705 shares of the business services provider’s stock valued at $16,126,000 after buying an additional 301,672 shares in the last quarter. Mackenzie Financial Corp grew its position in Corelogic by 41.6% in the 3rd quarter. Mackenzie Financial Corp now owns 904,679 shares of the business services provider’s stock valued at $44,700,000 after buying an additional 265,600 shares in the last quarter. Acadian Asset Management LLC bought a new position in Corelogic in the 2nd quarter valued at about $13,335,000. Renaissance Technologies LLC grew its position in Corelogic by 93.6% in the 3rd quarter. Renaissance Technologies LLC now owns 395,786 shares of the business services provider’s stock valued at $19,556,000 after buying an additional 191,305 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Corelogic in the 3rd quarter valued at about $8,528,000. Hedge funds and other institutional investors own 92.27% of the company’s stock.

Corelogic Company Profile

CoreLogic, Inc, together with its subsidiaries, provides property information, insight, analytics, and data-enabled solutions in North America, Western Europe, and the Asia Pacific. The company operates in two segments, Property Intelligence & Risk Management Solutions (PIRM) and Underwriting & Workflow Solutions (UWS).

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