CoreLogic, Inc. (CLGX) Expected to Announce Quarterly Sales of $491.51 Million
Equities analysts forecast that CoreLogic, Inc. (NYSE:CLGX) will announce sales of $491.51 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for CoreLogic’s earnings, with estimates ranging from $484.62 million to $500.65 million. CoreLogic posted sales of $523.90 million in the same quarter last year, which would indicate a negative year over year growth rate of 6.2%. The company is expected to report its next earnings results after the market closes on Wednesday, October 25th.
On average, analysts expect that CoreLogic will report full year sales of $491.51 million for the current financial year, with estimates ranging from $1.85 billion to $1.87 billion. For the next year, analysts expect that the firm will post sales of $1.91 billion per share, with estimates ranging from $1.88 billion to $1.94 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow CoreLogic.
CoreLogic (NYSE:CLGX) last released its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.06. The business had revenue of $473.98 million during the quarter, compared to analysts’ expectations of $478.72 million. CoreLogic had a return on equity of 17.07% and a net margin of 4.99%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS.
CLGX has been the topic of several recent research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $46.00 target price on shares of CoreLogic in a research report on Thursday, July 27th. Zacks Investment Research downgraded CoreLogic from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Robert W. Baird increased their target price on CoreLogic from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 13th. Oppenheimer Holdings, Inc. increased their target price on CoreLogic from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Finally, BidaskClub upgraded CoreLogic from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. CoreLogic presently has an average rating of “Hold” and an average price target of $45.00.
Shares of CoreLogic (NYSE CLGX) opened at 46.89 on Friday. The company’s 50-day moving average price is $46.51 and its 200 day moving average price is $43.66. CoreLogic has a 12-month low of $34.59 and a 12-month high of $48.02. The firm has a market capitalization of $3.95 billion, a PE ratio of 43.06 and a beta of 0.93.
In other CoreLogic news, insider Barry M. Sando sold 23,200 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $47.01, for a total transaction of $1,090,632.00. Following the sale, the insider now owns 156,661 shares in the company, valued at $7,364,633.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stergios Theologides sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $44.00, for a total value of $220,000.00. Following the sale, the general counsel now owns 63,806 shares in the company, valued at approximately $2,807,464. The disclosure for this sale can be found here. Insiders have sold 71,242 shares of company stock worth $3,325,193 in the last 90 days. Company insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC purchased a new stake in CoreLogic during the second quarter valued at about $211,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in CoreLogic by 9.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,351 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 283 shares in the last quarter. Covington Capital Management purchased a new stake in CoreLogic during the second quarter valued at about $202,000. Greenwood Capital Associates LLC purchased a new stake in CoreLogic during the second quarter valued at about $210,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in CoreLogic during the second quarter valued at about $239,000. Institutional investors and hedge funds own 88.16% of the company’s stock.
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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