Why CoreLogic (CLGX) Stock Is Lower After Hours

NEW YORK (TheStreet) -- CoreLogic (CLGX) stock is slipping after the company reported adjusted earnings 61% lower than a year earlier.

Over the three months to March, the analytics firm earned 17 cents a share from 44 cents a share a year earlier. 

The company said in a statement that adjusted earnings were significantly lower "reflecting the impact of lower mortgage origination volumes, integration and transition costs related to the BAC, MSB and DQ acquisitions as well as severance and facilities charges and stranded AMPS costs."

Analysts surveyed by Thomson Reuters had expected net income of 16 cents a share. 

Revenue of $310.4 million beat estimates of $287.01 million. 

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TheStreet Ratings team rates CORELOGIC INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CORELOGIC INC (CLGX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and weak operating cash flow."

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