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Forum - DD DEN of Picks (CORELOGIC INC - CLGX)    Comprehensive, well researched, Quality DD for buy and holds

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From: jjkool_01 (Rep: 1211) reply to jjkool_01Date: 01/31/2013 14:13
Forum: DD DEN of Picks - Msg #767 - List CLGX msgs Thread #673469157 (Rec: 0)
CoreLogic Updates 2012 Guidance And Provides 2013 Outlook
Record 2012 Performance Expected; Projects Growth in Revenue, Adjusted EBITDA and Adjusted Earnings per Share in 2013
- Fourth-quarter and full-year results expected to exceed high-end of previously issued 2012 revenue, adjusted EBITDA and adjusted EPS guidance range.
- Stronger 2012 expected results attributable to higher origination volumes, acceleration of Data and Analytics revenue growth, the benefits of operating leverage and cost reduction programs as well as share repurchases.
- Full-year 2013 guidance of $1,575 - $1,600 million in revenue, $460 - $475 million in adjusted EBITDA, and $1.65 - $1.75 in adjusted EPS.

2012 Guidance Update

Mortgage industry origination dollar volumes of approximately $1.7 to $1.8 trillion.
Mortgage industry delinquency volumes and foreclosure starts contract year-over-year at least 10 percent.
Successful execution of Project 30 cost savings initiatives totaling at least $60 million.
Repurchase of 10 million common shares during 2012.

2013 Outlook

Mortgage industry origination dollar volumes of approximately $1.45 to $1.55 trillion.
Mortgage industry delinquency volumes and foreclosure starts contract by at least 10 percent compared with 2012.
Successful execution of Project 30 cost savings totaling at least $20 million.
Repurchase of 3 million common shares.



Reply to jjkool_01 - Msg #765 - 10/26/2012 14:29

Had a great earnings report and increased guidance. On a normal earnings day this would attract buyers as evidenced by its big gap up at the open. What happened, as word on street has indicated, was First American Financial wanted out at this price level with some nice gains. So, they had 3.7M shares to dispose of and what better time to do so than into earnings volume.
There has been enough volume over these two days to provide for a partial exit. If they are done and this is why the dump ( I could find no other reason) then this could be a nice bounce play.
Current Price 23.15
Barclays increased Target to $30
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