Corecivic Inc (NYSE:CXW) – Research analysts at SunTrust Banks decreased their FY2018 earnings estimates for shares of Corecivic in a research note issued on Tuesday, November 6th. SunTrust Banks analyst T. Sommer now forecasts that the real estate investment trust will post earnings per share of $2.30 for the year, down from their prior forecast of $2.32. SunTrust Banks also issued estimates for Corecivic’s Q4 2018 earnings at $0.62 EPS and FY2020 earnings at $2.57 EPS.
Corecivic (NYSE:CXW) last released its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). Corecivic had a net margin of 8.88% and a return on equity of 11.64%. The firm had revenue of $462.73 million during the quarter, compared to the consensus estimate of $454.79 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis.
A number of other research firms have also recently weighed in on CXW. ValuEngine upgraded shares of Corecivic from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research cut shares of Corecivic from a “buy” rating to a “hold” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.67.
NYSE:CXW opened at $22.18 on Friday. Corecivic has a fifty-two week low of $18.61 and a fifty-two week high of $26.49. The stock has a market capitalization of $2.58 billion, a PE ratio of 9.56, a PEG ratio of 1.57 and a beta of 1.01. The company has a current ratio of 1.14, a quick ratio of 1.19 and a debt-to-equity ratio of 1.23.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date of this dividend was Friday, September 28th. Corecivic’s dividend payout ratio (DPR) is presently 74.14%.
In related news, Director Thurgood Marshall, Jr. sold 2,100 shares of Corecivic stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $25.95, for a total value of $54,495.00. Following the completion of the sale, the director now directly owns 31,221 shares in the company, valued at approximately $810,184.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Damon T. Hininger sold 35,324 shares of Corecivic stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $25.75, for a total transaction of $909,593.00. Following the completion of the sale, the chief executive officer now owns 260,082 shares of the company’s stock, valued at $6,697,111.50. The disclosure for this sale can be found here. Insiders sold a total of 91,136 shares of company stock valued at $2,319,353 over the last quarter. 1.30% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Corecivic by 27.7% in the 2nd quarter. BlackRock Inc. now owns 13,789,027 shares of the real estate investment trust’s stock worth $329,422,000 after purchasing an additional 2,988,840 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Corecivic by 5.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,514,976 shares of the real estate investment trust’s stock valued at $83,973,000 after acquiring an additional 190,010 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in Corecivic by 30.7% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,459,114 shares of the real estate investment trust’s stock valued at $58,748,000 after acquiring an additional 577,225 shares during the period. Renaissance Technologies LLC lifted its stake in Corecivic by 16.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,166,703 shares of the real estate investment trust’s stock valued at $51,763,000 after acquiring an additional 299,113 shares during the period. Finally, Northern Trust Corp lifted its stake in Corecivic by 57.8% during the 2nd quarter. Northern Trust Corp now owns 1,952,332 shares of the real estate investment trust’s stock valued at $46,641,000 after acquiring an additional 714,970 shares during the period. Institutional investors own 83.69% of the company’s stock.
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, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.
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