On Feb 23, Zacks Investment Research upgraded
) to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
CoreLogic delivered a strong fourth-quarter performance with a
positive earnings surprise of 12.5%. The solid performance came
on the back of an increase in revenue, profit margins and share
repurchases. Furthermore, the company had cost reductions related
to its previously announced Project 30 program, which were
approximately $62.2 million in 2012.
CoreLogic reported fourth-quarter results on Feb 21. Non-GAAP
earnings per share came in at 36 cents per share, surpassing the
Zacks Consensus Estimate by 12.5%. It was 140% ahead of the
Moreover, this consultant delivered positive earnings surprises
in all the 4 quarters with an average beat of 16.7%. The expected
long-term earnings growth rate for this stock is 15%.
The board of CoreLogic, in Dec 2012, approved a new share buyback
program, which enables it to repurchase up to $250 million worth
of shares. Moreover, in an effort to solidify its position as a
leading provider of geo-spatial property data and analytics, the
company took over Middletown, Conn.-based CDS Business Mapping,
LLC for $78 million in Dec 2012.
The Zacks Consensus Estimate for 2013 is currently pegged at
$1.67 per share, 8.1% higher on a year-over-year basis.
Other Stocks to Consider
Apart from CoreLogic, other stocks in the consulting segment that
are currently performing well and are worth considering include
CRA International Inc
Towers Watson & Co
), both carrying a Zacks Rank #1 (Strong Buy) and
Navigant Consulting Inc
) with a Zacks Rank #2 (Buy).
CORELOGIC INC (CLGX): Free Stock Analysis
CRA INTL INC (CRAI): Free Stock Analysis
NAVIGANT CONSLT (NCI): Free Stock Analysis
TOWERS WATSON (TW): Free Stock Analysis
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