Corelogic (NYSE:CLGX) Lifted to “B-” at TheStreet

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TheStreet upgraded shares of Corelogic (NYSE:CLGX) from a c+ rating to a b- rating in a research note published on Thursday, TheStreetRatingsTable reports.

Other equities research analysts have also issued reports about the stock. Citigroup lowered shares of Corelogic from an outperform rating to a market perform rating and set a $46.00 price objective on the stock. in a research note on Friday, February 28th. They noted that the move was a valuation call. Stephens upgraded Corelogic from an equal weight rating to an overweight rating and decreased their price target for the stock from $47.00 to $45.00 in a report on Monday, April 20th. Robert W. Baird boosted their price objective on Corelogic from $45.00 to $52.00 and gave the company a neutral rating in a research note on Thursday, February 20th. Wells Fargo & Co raised their target price on Corelogic from $50.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, February 27th. Finally, ValuEngine upgraded Corelogic from a sell rating to a hold rating in a report on Monday, March 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $45.90.

CLGX stock opened at $47.19 on Thursday. The company has a market capitalization of $3.64 billion, a P/E ratio of 46.72, a PEG ratio of 1.50 and a beta of 1.21. The company has a fifty day moving average price of $38.67 and a 200-day moving average price of $42.07. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.38 and a current ratio of 1.38. Corelogic has a 52-week low of $24.69 and a 52-week high of $51.74.

Corelogic (NYSE:CLGX) last posted its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.05. The business had revenue of $443.89 million during the quarter, compared to the consensus estimate of $438.44 million. Corelogic had a return on equity of 24.23% and a net margin of 4.56%. Corelogic’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, sell-side analysts forecast that Corelogic will post 2.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.86%. Corelogic’s dividend payout ratio (DPR) is presently 35.20%.

In other news, Director Paul F. Folino sold 650 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $46.57, for a total transaction of $30,270.50. Following the completion of the sale, the director now directly owns 9,460 shares of the company’s stock, valued at $440,552.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank Martell sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $40.16, for a total transaction of $301,200.00. Following the completion of the transaction, the chief executive officer now directly 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 90 days, insiders have sold 15,592 shares of company stock valued at $651,503. Corporate insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CLGX. Mizuho Markets Cayman LP bought a new position in shares of Corelogic in the first quarter valued at approximately $90,704,000. Norges Bank purchased a new stake in Corelogic in the 4th quarter valued at $39,351,000. Nitorum Capital L.P. bought a new position in Corelogic during the 4th quarter valued at $36,804,000. Prudential Financial Inc. lifted its stake in Corelogic by 239.1% during the 4th quarter. Prudential Financial Inc. now owns 717,762 shares of the business services provider’s stock valued at $31,373,000 after acquiring an additional 506,090 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in Corelogic by 131.0% during the 4th quarter. Nuveen Asset Management LLC now owns 692,193 shares of the business services provider’s stock worth $30,255,000 after acquiring an additional 392,512 shares during the last quarter. 92.16% of the stock is owned by hedge funds and other 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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