Corecivic (CXW) Issues Quarterly Earnings Results

Corecivic (NYSE:CXW) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01, Bloomberg Earnings reports. Corecivic had a net margin of 11.03% and a return on equity of 13.54%. Corecivic updated its Q1 guidance to $0.51-0.53 EPS and its FY18 guidance to $2.23-2.31 EPS.

Corecivic (CXW) traded up $0.40 during mid-day trading on Wednesday, reaching $21.66. 1,975,021 shares of the company’s stock traded hands, compared to its average volume of 1,040,000. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $2,560.00, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.50 and a beta of 0.85. Corecivic has a 12 month low of $19.59 and a 12 month high of $35.33.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Tuesday, January 2nd were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 7.76%. The ex-dividend date was Friday, December 29th. Corecivic’s dividend payout ratio is 100.60%.

CXW has been the topic of several research reports. SunTrust Banks reiterated a “buy” rating and issued a $37.00 price objective on shares of Corecivic in a research note on Friday, November 10th. Zacks Investment Research raised shares of Corecivic from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Monday, December 4th. Finally, ValuEngine downgraded shares of Corecivic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Corecivic currently has an average rating of “Hold” and an average price target of $33.25.

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About Corecivic

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.

Earnings History for Corecivic (NYSE:CXW)

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