To Trade or Not to Trade: CoreLogic, Inc. (CLGX) Earnings Preview

14 days have passed by since the last earnings report for CoreLogic, Inc. (NYSE:CLGX) and the new quarterly results look set to arrive in 118 days. The shares of CLGX at the moment are trading at a volume of 0.63 million, which compares with its normal daily standard volume of 628.24 million shares. This has led to the shares of the company declining by -1.25%, currently exchanging hands at $39.36 a share. CLGX stock has been up by $10.13 (-20.47%) ever since it reached its 52-week high of $49.49 back in September 06, 2019. It has progressed below its 50-day moving average of $45.1 and is down -3.29% over the past week. The stock has retreated -16% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the CLGX share price due for a breakout?

CoreLogic, Inc. (CLGX) Forecasts And Latest Quarter Earnings

Ahead of their fiscal fourth-quarter to be released on Tuesday, Mar 03, 2020, 13 analysts who are covering the company are estimating that it will record a profit of $0.65 per share, with analysts having different outlooks from $0.62 to $0.69. The current agreed outlook, when compared to the profit recorded last year, is at $0.48 a share, thus an increase of 35.42% is expected. The profit view for a complete financial year for CoreLogic, Inc. is expected to be around $2.73 in current year, a growth of nearly 0.37% from last year which was $2.72.

Let’s now look at their sales section, CLGX’s revenue is estimated to be $403.31M, a figure which is more than the $403.31M recorded for Q4 last year. Their sequential sales though are expected to move versus Q3’s $458.96B. Their full-year outlook is pegged at $1.75B, implying that there would be a drop of -2.23% over the $1.79B they recorded last year in revenue. CoreLogic, Inc. is projected to get sales cut by -1.71% in the next quarter, with a revenue target of $1.72B.

Analyzing The Earnings History Of CoreLogic, Inc. (NYSE:CLGX)

In the past few years, the CLGX stock has been known to miss the Wall Street’s earnings projection. The company missed 25% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 9 times. Looking at the past trend, the price of CoreLogic, Inc. shares had sank following the release of their earnings in 23 of the last 39 quarters.

Looking back, here is how CoreLogic, Inc. (CLGX) stock reacted to earnings misses and beats. It gave investors reason to be bearish with the price going down after 4 of the last four earnings reports. The shares of CoreLogic, Inc. recorded -13.74%, -8.88%, -5.08% and -9.31%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -15.39%, -3.45%, -5.71% and -9.48%. Their post-earnings price movements have resulted in an average decrease of -9.25% and an average decrease of -8.51% in CoreLogic, Inc. on next day and 7th day, sequentially. CLGX’s one month stock performance led to its shares declining by -16.01% with a return of -3.86% witnessed over the last 52 weeks.

The lower number of analysts has assigned a buy or better ratings (3) on the CoreLogic, Inc. stock, while 9 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $44.68. This price target implies potential upside of 13.52 percent over the next 12 months based on the current share price.

CoreLogic, Inc. (CLGX) Post Earnings Announcement Drift (PEAD)

Back on October 23, 2019, CoreLogic, Inc. (NYSE:CLGX) released its Q3 results, in which it recorded EPS of $0.82 that fell short of consensus estimates of $0.83. After the earnings were reported, the price of CLGX stock kicked off the session at $38.91 and remained in a range of $43.42 to $43.6 on the first day. The shares were priced at $40.92 at the close with a total volume of shares being 3634091.

On July 24, 2019, the Q2 earnings report was disclosed with EPS of $0.82. This was above the estimation of $0.76 per share. The stock price range of CLGX was between $44.89 and $45.8 on the first-day post announcement, after opening the day at $41.5. The session came to close at $43.01 and there was a total volume of 1955156 shares.

April 24, 2019 was the day when its Q1 results were unveiled. The earnings came in at $0.45, beating the projected $0.38 per share. The very next day, CLGX stock opened at $39.82 while staying in a range of $41.85 to $41.85. At the end, it moved to $40.2 a total volume of shares been 1627102.

In the year-ago Q4 earnings on February 26, 2019, the company saw profit per share of $0.48. That was equal to the $0.48 analysts had expected. CoreLogic, Inc. share price started at $35.99 on the first full trading day post-earning and then exchanged hands between $37.1 and $38.06 throughout the session. The closing price of $36.83 came on the back of 2197093 shares in volume.