Zacks: Analysts Anticipate Corelogic Inc (NYSE:CLGX) to Announce $1.05 EPS

Brokerages expect Corelogic Inc (NYSE:CLGX) to report earnings per share of $1.05 for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Corelogic’s earnings, with the lowest EPS estimate coming in at $0.94 and the highest estimate coming in at $1.12. 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 issue its next earnings results on Wednesday, October 28th.

According to Zacks, analysts expect that Corelogic will report full year earnings of $3.67 per share for the current fiscal year, with EPS estimates ranging from $3.49 to $3.75. For the next financial year, analysts forecast that the business will post earnings of $3.64 per share, with EPS estimates ranging from $3.02 to $3.90. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Corelogic.

Corelogic (NYSE:CLGX) last released its quarterly earnings data on Thursday, July 23rd. The business services provider reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.18. Corelogic had a net margin of 8.09% and a return on equity of 25.08%. The firm had revenue of $477.46 million during the quarter, compared to analysts’ expectations of $463.31 million. During the same period in the previous year, the company earned $0.82 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis.

CLGX has been the subject of several recent research reports. Zacks Investment Research lowered shares of Corelogic from a “strong-buy” rating to a “hold” rating and set a $69.00 target price for the company. in a research report on Wednesday, September 9th. Wells Fargo & Company lowered shares of Corelogic from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $60.00 to $65.00 in a research report on Monday, June 29th. Stephens lowered shares of Corelogic from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $57.00 to $69.00 in a research report on Friday, July 24th. Compass Point lowered shares of Corelogic from a “buy” rating to a “neutral” rating in a research report on Friday, July 24th. Finally, Oppenheimer reiterated a “hold” rating on shares of Corelogic in a research report on Thursday, July 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $59.70.

NYSE CLGX traded up $0.02 during trading hours on Wednesday, hitting $67.61. 629,412 shares of the company’s stock traded hands, compared to its average volume of 1,070,495. The business’s fifty day moving average price is $67.10 and its two-hundred day moving average price is $52.43. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $5.37 billion, a P/E ratio of 37.35, a P/E/G ratio of 1.72 and a beta of 1.28. Corelogic has a 52 week low of $24.69 and a 52 week high of $69.87.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.33 per share. This is an increase from Corelogic’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.32 dividend on an annualized basis and a yield of 1.95%. Corelogic’s dividend payout ratio is presently 52.80%.

In related news, Director Barry M. Sando sold 3,750 shares of the company’s stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $67.72, for a total transaction of $253,950.00. Following the sale, the director now owns 152,761 shares of the company’s stock, valued at $10,344,974.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CLGX. Two Sigma Advisers LP increased its position in shares of Corelogic by 14.8% in the second quarter. Two Sigma Advisers LP now owns 196,100 shares of the business services provider’s stock valued at $13,182,000 after buying an additional 25,300 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in Corelogic during the 2nd quarter worth approximately $739,000. Nuveen Asset Management LLC increased its holdings in Corelogic by 192.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 857,812 shares of the business services provider’s stock worth $57,662,000 after purchasing an additional 564,744 shares during the last quarter. Stephens Inc. AR purchased a new stake in Corelogic during the 2nd quarter worth approximately $745,000. Finally, CNH Partners LLC acquired a new position in shares of Corelogic in the 2nd quarter worth approximately $1,479,000. 92.93% of the stock is currently owned by institutional investors.

About Corelogic

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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