Corelogic Inc (NYSE:CLGX) Expected to Post Quarterly Sales of $440.27 Million

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Wall Street analysts forecast that Corelogic Inc (NYSE:CLGX) will announce sales of $440.27 million for the current quarter, according to Zacks. Five analysts have made estimates for Corelogic’s earnings, with the highest sales estimate coming in at $445.17 million and the lowest estimate coming in at $432.60 million. Corelogic reported sales of $459.54 million during the same quarter last year, which would suggest a negative year over year growth rate of 4.2%. The company is scheduled to announce its next earnings results on Wednesday, July 22nd.

According to Zacks, analysts expect that Corelogic will report full-year sales of $1.71 billion for the current financial year, with estimates ranging from $1.67 billion to $1.73 billion. For the next year, analysts expect that the firm will report sales of $1.71 billion, with estimates ranging from $1.56 billion to $1.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Corelogic.

Corelogic (NYSE:CLGX) last posted its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.05. Corelogic had a net margin of 4.56% and a return on equity of 24.23%. The company had revenue of $443.89 million for the quarter, compared to analyst estimates of $438.44 million. During the same period in the prior year, the firm posted $0.45 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis.

Several brokerages recently issued reports on CLGX. Stephens raised shares of Corelogic from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $47.00 to $45.00 in a research note on Monday, April 20th. Robert W. Baird boosted their price objective on Corelogic from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. SunTrust Banks decreased their price objective on Corelogic from $49.00 to $38.00 and set a “hold” rating for the company in a report on Friday, May 1st. Deutsche Bank decreased their price objective on Corelogic from $39.00 to $27.00 and set a “sell” rating for the company in a report on Monday, March 23rd. Finally, Compass Point raised Corelogic from a “neutral” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Monday, May 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Corelogic presently has a consensus rating of “Hold” and an average price target of $45.90.

In related news, Director Paul F. Folino sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $46.57, for a total value of $30,270.50. Following the transaction, the director now owns 9,460 shares in the company, valued at $440,552.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Frank Martell sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $40.16, for a total value of $301,200.00. Following the completion of the transaction, the chief executive officer now owns 360,886 shares in the company, valued at approximately $14,493,181.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,592 shares of company stock worth $651,503. 1.60% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of CLGX. The Manufacturers Life Insurance Company grew its stake in shares of Corelogic by 2.0% in the first quarter. The Manufacturers Life Insurance Company now owns 113,886 shares of the business services provider’s stock worth $3,478,000 after acquiring an additional 2,276 shares during the last quarter. FDx Advisors Inc. purchased a new stake in shares of Corelogic during the first quarter valued at $2,464,000. HighTower Advisors LLC boosted its position in shares of Corelogic by 81.9% during the first quarter. HighTower Advisors LLC now owns 14,178 shares of the business services provider’s stock valued at $433,000 after buying an additional 6,383 shares during the last quarter. Advisor Group Holdings Inc. purchased a new stake in shares of Corelogic during the first quarter valued at $399,000. Finally, Engineers Gate Manager LP boosted its position in shares of Corelogic by 332.5% during the first quarter. Engineers Gate Manager LP now owns 42,943 shares of the business services provider’s stock valued at $1,311,000 after buying an additional 33,013 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

NYSE CLGX traded up $0.27 on Friday, hitting $49.83. 653,812 shares of the company were exchanged, compared to its average volume of 874,773. The company has a market cap of $3.94 billion, a PE ratio of 49.50, a PEG ratio of 1.62 and a beta of 1.29. Corelogic has a 12 month low of $24.69 and a 12 month high of $51.74. The stock has a fifty day moving average of $41.07 and a 200-day moving average of $42.36. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.71.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, May 29th. Corelogic’s dividend payout ratio is presently 35.20%.

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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