Back to top

Image: Bigstock

CoreLogic (CLGX) Stock Rises 54.4% YTD: What's Driving It?

Read MoreHide Full Article

Shares of CoreLogic, Inc. have gained 54.4% year to date, ahead of 7.8% growth of the industry it belongs to.

 

Let’s delve into the factors which have contributed to the company’s outperformance.

Consecutive Earnings & Revenue Beat

CoreLogic came up with better-than-expected earnings and revenue performance in five of the last six quarters. The top line benefited from strength in the company’s core mortgage and insurance, and spatial solutions. The bottom line was aided by revenue growth, operating leverage, better business mix, and cost-efficiency programs.

Raised Full-Year  2020 Guidance

CoreLogic raised its guidance for full-year 2020. The company now estimates revenues in the $1.86-$1.89 billion band compared with the previous guidance of $1.84-$1.88 million. The Zacks Consensus Estimate of $1.88 billion lies within the updated guidance.

Adjusted EPS is anticipated in the range of $3.60-$3.75 compared with the prior prediction of $3.40-$3.60. The Zacks Consensus Estimate of $3.65 lies within the updated guidance.

Adjusted EBITDA is now anticipated within $580-$600 million compared with the prior guidance of $565-$585 million.

Solid Dividend Hike

CoreLogic’s board of directors declared a dividend hike of 50%, thereby raising the company’s quarterly cash dividend to 33 cents per share from 22 cents. The new dividend will be paid out on Sep 15, 2020 to shareholders of record at the close of business on Sep 1, 2020.

The last dividend of 22 cents per share was paid out on Jun 15, 2020.

Zacks Rank and Other Stocks to Consider

CoreLogic currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the broader Zacks Business Services sector are Republic Services (RSG - Free Report) , IQVIA Holdings (IQV - Free Report) and ICF International (ICFI - Free Report) . All the stocks carry a Zacks Rank #2 Buy. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term expected earnings per share (three to five years) growth rate for Republic Services, IQVIA Holdings and ICF International is 6.6%, 9.9% and 10%, respectively.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Republic Services, Inc. (RSG) - free report >>

ICF International, Inc. (ICFI) - free report >>

IQVIA Holdings Inc. (IQV) - free report >>

Published in