$0.51 Earnings Per Share Expected for CoreCivic (CXW) This Quarter

Wall Street brokerages expect CoreCivic (NYSE:CXW) to post earnings of $0.51 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for CoreCivic’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.51. CoreCivic posted earnings per share of $0.63 in the same quarter last year, which would suggest a negative year-over-year growth rate of 19%. The company is expected to report its next earnings results on Wednesday, May 2nd.

On average, analysts expect that CoreCivic will report full-year earnings of $2.23 per share for the current fiscal year, with EPS estimates ranging from $2.22 to $2.24. For the next year, analysts forecast that the business will post earnings of $2.23 per share, with EPS estimates ranging from $2.21 to $2.26. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow CoreCivic.

How to Become a New Pot Stock Millionaire

CoreCivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.15). CoreCivic had a return on equity of 12.61% and a net margin of 10.08%. The business had revenue of $440.58 million for the quarter, compared to analyst estimates of $429.88 million.

A number of research analysts have issued reports on CXW shares. Zacks Investment Research upgraded CoreCivic from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Tuesday, January 9th. ValuEngine lowered CoreCivic from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Deutsche Bank cut their price objective on CoreCivic from $35.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. CoreCivic has a consensus rating of “Hold” and an average price target of $32.75.

CXW stock traded down $0.11 during trading on Friday, reaching $19.52. 876,637 shares of the company’s stock were exchanged, compared to its average volume of 860,724. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.13 and a current ratio of 1.13. CoreCivic has a 1-year low of $19.02 and a 1-year high of $35.10. The firm has a market capitalization of $2,307.34, a PE ratio of 8.41, a price-to-earnings-growth ratio of 1.46 and a beta of 0.91.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be issued a $0.43 dividend. This is a positive change from CoreCivic’s previous quarterly dividend of $0.42. The ex-dividend date is Thursday, March 29th. This represents a $1.72 annualized dividend and a dividend yield of 8.81%. CoreCivic’s dividend payout ratio is 72.41%.

In other news, Director Mark A. Emkes acquired 5,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was acquired at an average price of $21.17 per share, for a total transaction of $105,850.00. Following the completion of the acquisition, the director now directly owns 56,488 shares in the company, valued at approximately $1,195,850.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of CoreCivic by 0.9% during the fourth quarter. BlackRock Inc. now owns 10,766,519 shares of the real estate investment trust’s stock worth $242,247,000 after purchasing an additional 95,372 shares during the period. Bank of New York Mellon Corp raised its position in CoreCivic by 4.5% during the third quarter. Bank of New York Mellon Corp now owns 2,140,892 shares of the real estate investment trust’s stock valued at $57,312,000 after buying an additional 92,348 shares during the period. Renaissance Technologies LLC raised its position in CoreCivic by 23.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,763,703 shares of the real estate investment trust’s stock valued at $39,683,000 after buying an additional 337,600 shares during the period. Geode Capital Management LLC raised its position in CoreCivic by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 1,755,764 shares of the real estate investment trust’s stock valued at $39,504,000 after buying an additional 76,114 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its position in CoreCivic by 13.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,451,950 shares of the real estate investment trust’s stock valued at $32,669,000 after buying an additional 176,175 shares during the period. 79.84% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This story was first reported by WKRB News and is the property of of WKRB News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. & international trademark and copyright laws. The original version of this story can be viewed at https://www.wkrb13.com/2018/03/31/0-51-earnings-per-share-expected-for-corecivic-cxw-this-quarter.html.

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.

Get a free copy of the Zacks research report on CoreCivic (CXW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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