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Why CoreLogic (CLGX) Is Plummeting Aftermarket

Stocks in this article: CLGX

NEW YORK (TheStreet) -- CoreLogic (CLGX) plummeted in extended trading after posting earnings and sales below analyst estimates.

After the bell, shares had taken off 12.5% to $30.01.

The property information and analytics service reported net income of 23 cents a share for the three months to December. Analysts surveyed by Thomson Reuters had anticipated earnings of 36 cents a share.

Quarterly revenue of $311.9 million was 6.6% lower than a year earlier and short consensus by $65.5 million. Sales were lower due to an estimated 50% decline in mortgage origination volumes.

For fiscal 2014, management guides for revenue between $1.35 billion and $1.4 billion. Net income is expected in the range of $1.40 to $1.55 a share. Analysts predict per-share earnings of $1.88 on $1.61 billion in sales.

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TheStreet Ratings team rates CORELOGIC INC as a Buy with a ratings score of B-. The team has this to say about their recommendation:

"We rate CORELOGIC INC (CLGX) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, increase in net income, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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