Brokerages expect Corecivic Inc (NYSE:CXW) to post earnings of $0.59 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Corecivic’s earnings. The lowest EPS estimate is $0.58 and the highest is $0.59. Corecivic posted earnings per share of $0.55 during the same quarter last year, which would suggest a positive year over year growth rate of 7.3%. The business is scheduled to announce its next earnings report on Wednesday, November 14th.
According to Zacks, analysts expect that Corecivic will report full year earnings of $2.31 per share for the current fiscal year. For the next fiscal year, analysts expect that the company will report earnings of $2.37 per share, with EPS estimates ranging from $2.32 to $2.42. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Corecivic.
Corecivic (NYSE:CXW) last announced its quarterly 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). Corecivic had a net margin of 8.99% and a return on equity of 11.44%. The firm had revenue of $449.93 million for the quarter, compared to the consensus estimate of $435.61 million. During the same period in the prior year, the business earned $0.59 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis.
CXW has been the subject of several research reports. Zacks Investment Research cut shares of Corecivic from a “buy” rating to a “hold” rating in a research report on Tuesday, June 19th. TheStreet upgraded shares of Corecivic from a “c” rating to a “b-” rating in a research report on Monday, June 25th. Finally, ValuEngine cut shares of Corecivic from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Corecivic presently has a consensus rating of “Hold” and an average target price of $31.33.
In other Corecivic news, Director Charles L. Overby sold 43,712 shares of the firm’s 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 completion of the sale, the director now owns 57,067 shares in the company, valued at approximately $1,441,512.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Damon T. Hininger sold 14,027 shares of the firm’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $26.00, for a total transaction of $364,702.00. Following the completion of the sale, the chief executive officer now owns 238,785 shares of the company’s stock, valued at approximately $6,208,410. The disclosure for this sale can be found here. Insiders sold a total of 91,646 shares of company stock valued at $2,313,935 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.
Several large investors have recently modified their holdings of the company. Arizona State Retirement System grew its position in shares of Corecivic by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 82,302 shares of the real estate investment trust’s stock worth $1,966,000 after buying an additional 2,321 shares during the period. Legal & General Group Plc grew its position in shares of Corecivic by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 204,828 shares of the real estate investment trust’s stock worth $4,894,000 after buying an additional 2,492 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Corecivic by 3.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 75,249 shares of the real estate investment trust’s stock worth $1,469,000 after buying an additional 2,648 shares during the period. Neuberger Berman Group LLC grew its position in shares of Corecivic by 0.4% during the 1st quarter. Neuberger Berman Group LLC now owns 764,476 shares of the real estate investment trust’s stock worth $14,923,000 after buying an additional 2,817 shares during the period. Finally, Blair William & Co. IL grew its position in shares of Corecivic by 10.6% during the 1st quarter. Blair William & Co. IL now owns 36,738 shares of the real estate investment trust’s stock worth $717,000 after buying an additional 3,525 shares during the period. Institutional investors own 79.79% of the company’s stock.
Shares of CXW stock opened at $25.27 on Friday. Corecivic has a 12-month low of $18.61 and a 12-month high of $27.50. The stock has a market cap of $3.01 billion, a P/E ratio of 10.89, a PEG ratio of 1.85 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.81%. The ex-dividend date is Friday, September 28th. Corecivic’s payout ratio is presently 74.14%.
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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