Analysts Anticipate Corelogic Inc (NYSE:CLGX) Will Announce Earnings of $1.05 Per Share

Equities analysts expect Corelogic Inc (NYSE:CLGX) to report earnings of $1.05 per share for the current quarter, according to Zacks. Five analysts have provided estimates for Corelogic’s earnings, with the highest EPS estimate coming in at $1.12 and the lowest estimate coming in at $0.94. Corelogic reported earnings per share of $0.82 during the same quarter last year, which indicates a positive year-over-year growth rate of 28%. The company is expected to announce its next quarterly earnings results on Wednesday, October 28th.

According to Zacks, analysts expect that Corelogic will report full year earnings of $3.65 per share for the current fiscal year, with EPS estimates ranging from $3.49 to $3.75. For the next fiscal year, analysts anticipate that the company will report earnings of $3.50 per share, with EPS estimates ranging from $3.02 to $3.84. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Corelogic.

Corelogic (NYSE:CLGX) last announced its earnings results on Thursday, July 23rd. The business services provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.84 by $0.18. Corelogic had a return on equity of 25.08% and a net margin of 8.09%. The business had revenue of $477.46 million during the quarter, compared to the consensus estimate of $463.31 million. During the same period in the prior year, the business posted $0.82 earnings per share. Corelogic’s revenue was up 3.9% compared to the same quarter last year.

Several brokerages have recently commented on CLGX. TheStreet raised Corelogic from a “c+” rating to a “b-” rating in a report on Thursday, May 21st. Oppenheimer reaffirmed a “hold” rating on shares of Corelogic in a report on Thursday, July 23rd. Robert W. Baird upped their target price on Corelogic from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Wells Fargo & Co downgraded Corelogic from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $60.00 to $65.00 in a research note on Monday, June 29th. Finally, SunTrust Banks raised Corelogic from a “hold” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $75.00 in a research note on Friday, June 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $57.60.

Shares of NYSE CLGX opened at $68.16 on Friday. Corelogic has a 12 month low of $24.69 and a 12 month high of $69.87. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 1.74 and a beta of 1.34. The company has a quick ratio of 1.38, a current ratio of 1.68 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $62.15 and a 200-day simple moving average of $47.97.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, August 31st. This is an increase from Corelogic’s previous quarterly dividend of $0.22. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.94%. Corelogic’s dividend payout ratio (DPR) is 35.20%.

In other news, CFO James L. Balas sold 4,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $42.77, for a total transaction of $171,080.00. Following the completion of the sale, the chief financial officer now directly owns 94,851 shares of the company’s stock, valued at approximately $4,056,777.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul F. Folino sold 1,800 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $42.32, for a total value of $76,176.00. Following the transaction, the director now directly owns 11,820 shares in the company, valued at approximately $500,222.40. The disclosure for this sale can be found here. Insiders have sold a total of 14,182 shares of company stock valued at $726,860 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank increased its holdings in shares of Corelogic by 5.6% during the 2nd quarter. Comerica Bank now owns 48,556 shares of the business services provider’s stock valued at $3,320,000 after acquiring an additional 2,581 shares during the last quarter. Leisure Capital Management increased its holdings in shares of Corelogic by 3.7% during the 2nd quarter. Leisure Capital Management now owns 13,490 shares of the business services provider’s stock valued at $907,000 after acquiring an additional 479 shares during the last quarter. Great Valley Advisor Group Inc. acquired a new position in shares of Corelogic during the 2nd quarter valued at about $360,000. UBS Group AG increased its holdings in shares of Corelogic by 403.9% during the 2nd quarter. UBS Group AG now owns 32,635 shares of the business services provider’s stock valued at $2,194,000 after acquiring an additional 26,159 shares during the last quarter. Finally, Mackay Shields LLC increased its holdings in shares of Corelogic by 269.3% during the 2nd quarter. Mackay Shields LLC now owns 268,596 shares of the business services provider’s stock valued at $18,054,000 after acquiring an additional 195,874 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

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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