Wall Street brokerages predict that Corecivic Inc (NYSE:CXW) will report sales of $445.16 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Corecivic’s earnings. The highest sales estimate is $445.74 million and the lowest is $444.58 million. Corecivic posted sales of $442.85 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The company is scheduled to report its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Corecivic will report full-year sales of $1.77 billion for the current fiscal year, with estimates ranging from $1.76 billion to $1.78 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.77 billion per share, with estimates ranging from $1.76 billion to $1.78 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Corecivic.
Corecivic (NYSE:CXW) last announced its earnings results on Wednesday, August 8th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). The business had revenue of $449.93 million for the quarter, compared to analysts’ expectations of $435.61 million. Corecivic had a net margin of 8.99% and a return on equity of 11.44%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share.
Several analysts have recently issued reports on CXW shares. Zacks Investment Research upgraded shares of Corecivic from a “sell” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, May 9th. ValuEngine lowered shares of Corecivic from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Finally, TheStreet raised shares of Corecivic from a “c” rating to a “b-” rating in a research report on Monday, June 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $31.33.
Shares of NYSE CXW opened at $25.27 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market cap of $3.01 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 1.85 and a beta of 1.02. Corecivic has a 12-month low of $18.61 and a 12-month high of $27.50.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Friday, September 28th. Corecivic’s dividend payout ratio (DPR) is currently 74.14%.
In related news, Director Charles L. Overby sold 43,712 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $25.26, for a total value of $1,104,165.12. Following the sale, the director now directly owns 57,067 shares of the company’s stock, valued at approximately $1,441,512.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kim White sold 10,000 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $25.11, for a total transaction of $251,100.00. Following the completion of the sale, the executive vice president now directly owns 26,036 shares in the company, valued at $653,763.96. The disclosure for this sale can be found here. Insiders sold a total of 91,646 shares of company stock worth $2,313,935 over the last three months. 1.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Global X Management Co LLC purchased a new stake in Corecivic in the 2nd quarter worth about $9,753,000. Argent Trust Co purchased a new stake in Corecivic in the 2nd quarter worth about $239,000. Spectrum Financial Alliance Ltd LLC raised its position in Corecivic by 1.3% in the 2nd quarter. Spectrum Financial Alliance Ltd LLC now owns 692,521 shares of the real estate investment trust’s stock worth $16,544,000 after purchasing an additional 8,754 shares during the period. MetLife Investment Advisors LLC raised its position in Corecivic by 74.9% in the 2nd quarter. MetLife Investment Advisors LLC now owns 128,980 shares of the real estate investment trust’s stock worth $3,081,000 after purchasing an additional 55,215 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Corecivic by 87.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 75,835 shares of the real estate investment trust’s stock worth $1,812,000 after acquiring an additional 35,379 shares during the period. 79.79% of the stock is currently owned by institutional investors.
Corecivic Company Profile
The Company is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, government real estate solutions, and a growing network of residential reentry centers to help address America's recidivism crisis.
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