Equities analysts expect Corecivic Inc (NYSE:CXW) to post earnings per share of $0.56 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Corecivic’s earnings. The highest EPS estimate is $0.57 and the lowest is $0.56. Corecivic reported earnings per share of $0.60 in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.7%. The company is expected to announce its next earnings results after the market closes on Wednesday, May 3rd.
On average, analysts expect that Corecivic will report full-year earnings of $2.27 per share for the current year, with EPS estimates ranging from $2.26 to $2.28. For the next year, analysts forecast that the company will report earnings of $2.24 per share, with EPS estimates ranging from $2.22 to $2.26. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow Corecivic.
Corecivic (NYSE:CXW) last issued its earnings results on Wednesday, February 8th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.10. Corecivic had a net margin of 11.89% and a return on equity of 15.26%. The firm earned $464.10 million during the quarter, compared to analyst estimates of $458.96 million. During the same quarter in the previous year, the business posted $0.63 EPS. Corecivic’s revenue was up 3.6% compared to the same quarter last year.
CXW has been the topic of several analyst reports. Zacks Investment Research raised shares of Corecivic from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, December 21st. Canaccord Genuity reissued a “buy” rating and set a $28.00 target price on shares of Corecivic in a research report on Friday, December 23rd. Deutsche Bank AG initiated coverage on shares of Corecivic in a research report on Wednesday, February 22nd. They set a “buy” rating and a $38.00 target price on the stock. Finally, Wells Fargo & Co reissued a “market perform” rating on shares of Corecivic in a research report on Thursday, February 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $32.25.
In other Corecivic news, Director Thurgood Marshall, Jr. sold 2,750 shares of the company’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $32.50, for a total transaction of $89,375.00. Following the completion of the sale, the director now directly owns 33,443 shares in the company, valued at $1,086,897.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Garfinkle sold 10,000 shares of the company’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $33.22, for a total transaction of $332,200.00. Following the sale, the chief financial officer now owns 94,106 shares of the company’s stock, valued at $3,126,201.32. The disclosure for this sale can be found here. Insiders have sold 172,921 shares of company stock valued at $5,460,579 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Epoch Investment Partners Inc. boosted its stake in Corecivic by 0.9% in the third quarter. Epoch Investment Partners Inc. now owns 6,445,518 shares of the real estate investment trust’s stock worth $89,400,000 after buying an additional 59,077 shares during the period. FMR LLC boosted its stake in Corecivic by 332.7% in the fourth quarter. FMR LLC now owns 3,413,693 shares of the real estate investment trust’s stock worth $83,499,000 after buying an additional 2,624,693 shares during the period. Bloom Tree Partners LLC purchased a new stake in Corecivic during the third quarter worth about $21,685,000. Two Sigma Advisers LP boosted its stake in Corecivic by 2,361.7% in the third quarter. Two Sigma Advisers LP now owns 1,322,739 shares of the real estate investment trust’s stock worth $18,346,000 after buying an additional 1,269,007 shares during the period. Finally, Lee Danner & Bass Inc. boosted its stake in Corecivic by 2.1% in the third quarter. Lee Danner & Bass Inc. now owns 898,612 shares of the real estate investment trust’s stock worth $12,464,000 after buying an additional 18,751 shares during the period. Institutional investors own 85.99% of the company’s stock.
Shares of Corecivic (NYSE:CXW) traded up 0.57% on Monday, reaching $33.55. The company had a trading volume of 618,655 shares. The company has a 50 day moving average price of $32.33 and a 200 day moving average price of $25.51. Corecivic has a 52-week low of $12.99 and a 52-week high of $35.33. The stock has a market capitalization of $3.95 billion, a PE ratio of 17.94 and a beta of 0.99.
The company also recently declared a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, April 3rd were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Thursday, March 30th. Corecivic’s dividend payout ratio (DPR) is 89.84%.
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CoreCivic, Inc, formerly Corrections Corporation of America, is a real estate investment trust (REIT). The Company provides a range of solutions to government partners that serve the public good through corrections and detention management, government real estate solutions, and a network of residential reentry centers to help address America’s recidivism crisis.
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