$491.51 Million in Sales Expected for CoreLogic, Inc. (CLGX) This Quarter
Wall Street analysts forecast that CoreLogic, Inc. (NYSE:CLGX) will post sales of $491.51 million for the current quarter, Zacks reports. Six analysts have made estimates for CoreLogic’s earnings, with the lowest sales estimate coming in at $484.62 million and the highest estimate coming in at $500.65 million. CoreLogic reported sales of $523.90 million in the same quarter last year, which would suggest a negative year over year growth rate of 6.2%. The firm is expected to issue its next earnings report on Monday, October 23rd.
On average, analysts expect that CoreLogic will report full-year sales of $491.51 million for the current year, with estimates ranging from $1.85 billion to $1.87 billion. For the next financial year, analysts forecast that the firm will report sales of $1.91 billion per share, with estimates ranging from $1.88 billion to $1.94 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow CoreLogic.
CoreLogic (NYSE:CLGX) last released its earnings results on Tuesday, July 25th. The business services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.06. The company had revenue of $473.98 million for the quarter, compared to the consensus estimate of $478.72 million. CoreLogic had a net margin of 4.99% and a return on equity of 17.07%. CoreLogic’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS.
Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $46.00 target price on shares of CoreLogic in a report on Thursday, July 27th. Zacks Investment Research raised shares of CoreLogic from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. raised their target price on shares of CoreLogic from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. BidaskClub cut shares of CoreLogic from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Barclays PLC raised their target price on shares of CoreLogic from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.
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Shares of CoreLogic (NYSE:CLGX) opened at 44.72 on Friday. The firm’s 50-day moving average is $44.15 and its 200 day moving average is $41.37. The stock has a market cap of $3.77 billion, a P/E ratio of 41.07 and a beta of 0.97. CoreLogic has a 52-week low of $34.59 and a 52-week high of $45.99.
In other CoreLogic news, Director Mary Lee Widener sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $42.79, for a total transaction of $42,790.00. Following the sale, the director now owns 9,354 shares of the company’s stock, valued at $400,257.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stergios Theologides sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $44.00, for a total transaction of $220,000.00. Following the sale, the general counsel now directly owns 63,806 shares in the company, valued at approximately $2,807,464. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,410 shares of company stock worth $540,854. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in CoreLogic by 69.4% in the first quarter. American Century Companies Inc. now owns 102,888 shares of the business services provider’s stock worth $4,190,000 after buying an additional 42,153 shares during the last quarter. First Trust Advisors LP boosted its position in shares of CoreLogic by 24.8% in the first quarter. First Trust Advisors LP now owns 204,395 shares of the business services provider’s stock worth $8,323,000 after buying an additional 40,647 shares during the last quarter. Tyers Asset Management LLC boosted its position in shares of CoreLogic by 1.4% in the first quarter. Tyers Asset Management LLC now owns 3,256 shares of the business services provider’s stock worth $133,000 after buying an additional 44 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of CoreLogic by 2.3% in the first quarter. Great West Life Assurance Co. Can now owns 50,385 shares of the business services provider’s stock worth $2,051,000 after buying an additional 1,116 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of CoreLogic by 212.9% in the first quarter. Canada Pension Plan Investment Board now owns 78,771 shares of the business services provider’s stock worth $3,208,000 after buying an additional 53,600 shares during the last quarter. 90.95% of the stock is currently owned by institutional investors.
CoreLogic Company Profile
CoreLogic, Inc is a provider of property information, analytics and data-enabled services. The Company provides detailed coverage of property, mortgages and other encumbrances, property risk and replacement cost, consumer credit, tenancy, location, hazard risk and related performance information. Its segments include Property Intelligence (PI), Risk Management and Work Flow (RMW), and Corporate.
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