Corecivic Inc (CXW) Receives Average Rating of “Hold” from Brokerages

Shares of Corecivic Inc (NYSE:CXW) have earned an average rating of “Hold” from the eight brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $36.00.

Several equities analysts recently issued reports on CXW shares. Zacks Investment Research downgraded shares of Corecivic from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. ValuEngine downgraded shares of Corecivic from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, SunTrust Banks reissued a “buy” rating and set a $37.00 price target on shares of Corecivic in a report on Monday, October 2nd.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC raised its stake in shares of Corecivic by 115.0% in the second quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 2,189 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Corecivic by 11.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,266 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 452 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Corecivic by 152.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,818 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 3,516 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Corecivic by 8.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,272 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 629 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Corecivic in the second quarter worth about $228,000. 83.17% of the stock is owned by institutional investors.

Shares of Corecivic (NYSE:CXW) traded up $0.35 during mid-day trading on Friday, reaching $22.34. 561,818 shares of the company traded hands, compared to its average volume of 1,100,000. Corecivic has a 12-month low of $21.41 and a 12-month high of $35.33. The company has a market cap of $2,640.00, a P/E ratio of 13.38, a P/E/G ratio of 1.63 and a beta of 0.89. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97.

Corecivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. Corecivic had a net margin of 11.03% and a return on equity of 13.54%. The firm had revenue of $442.80 million during the quarter, compared to the consensus estimate of $437.18 million. During the same period last year, the firm posted $0.69 EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. equities research analysts predict that Corecivic will post 2.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 7.52%. The ex-dividend date of this dividend was Friday, December 29th. Corecivic’s dividend payout ratio is presently 100.60%.

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Corecivic Company Profile

CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.

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