Corecivic (NYSE:CXW) updated its FY 2018 earnings guidance on Monday. The company provided EPS guidance of $2.29-2.31 for the period. Corecivic also updated its Q4 2018 guidance to $0.61-0.63 EPS.
Shares of CXW stock traded up $0.68 on Monday, hitting $23.36. 819,079 shares of the stock traded hands, compared to its average volume of 876,350. Corecivic has a 1-year low of $18.61 and a 1-year high of $26.49. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04. The firm has a market cap of $2.69 billion, a P/E ratio of 10.07, a P/E/G ratio of 1.63 and a beta of 1.01.
Corecivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). The firm had revenue of $449.93 million for the quarter, compared to analyst estimates of $435.61 million. Corecivic had a return on equity of 11.44% and a net margin of 8.99%. Corecivic’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS. On average, research analysts forecast that Corecivic will post 2.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date was Friday, September 28th. Corecivic’s payout ratio is 74.14%.
CXW has been the topic of a number of research reports. Zacks Investment Research raised shares of Corecivic from a hold rating to a buy rating and set a $28.00 price target on the stock in a report on Monday, August 20th. ValuEngine upgraded shares of Corecivic from a strong sell rating to a sell rating in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Corecivic has an average rating of Hold and a consensus price target of $32.67.
In related news, Director Charles L. Overby sold 43,712 shares of the stock in a transaction dated Monday, August 13th. The stock was 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 directly owns 57,067 shares of the company’s stock, valued at approximately $1,441,512.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kim White sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $25.11, for a total value of $251,100.00. Following the sale, the executive vice president now directly owns 26,036 shares of the company’s stock, valued at $653,763.96. The disclosure for this sale can be found here. Insiders sold a total of 106,733 shares of company stock worth $2,716,921 over the last quarter. Insiders own 1.30% of the company’s stock.
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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, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.
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