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.
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.
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.
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.
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