Corecivic (CXW) Issues FY 2018 Earnings Guidance

Share on StockTwits

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.

TRADEMARK VIOLATION WARNING: This report was first published by Macon Daily and is owned by of Macon Daily. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://macondaily.com/2018/11/05/corecivic-cxw-issues-fy-2018-earnings-guidance.html.

About Corecivic

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.

Read More: How is the S&P 500 index different from the DJIA?

Earnings History and Estimates for Corecivic (NYSE:CXW)

Receive News & Ratings for Corecivic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corecivic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply