Equities analysts expect Corecivic Inc (NYSE:CXW) to report $0.51 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Corecivic’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.51. Corecivic reported earnings per share of $0.63 during the same quarter last year, which indicates a negative year-over-year growth rate of 19%. The business is scheduled to report its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Corecivic will report full-year earnings of $2.23 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.24. For the next fiscal year, analysts forecast that the business will report earnings of $2.23 per share, with EPS estimates ranging from $2.21 to $2.26. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover 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). The business had revenue of $440.58 million during the quarter, compared to analyst estimates of $429.88 million. Corecivic had a net margin of 10.08% and a return on equity of 12.61%.
Corecivic (NYSE:CXW) traded down $0.22 during mid-day trading on Wednesday, hitting $21.53. The stock had a trading volume of 153,159 shares, compared to its average volume of 977,517. The firm has a market capitalization of $2,592.22, a P/E ratio of 14.33, a P/E/G ratio of 1.64 and a beta of 0.91. Corecivic has a 1-year low of $19.59 and a 1-year high of $35.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.13 and a quick ratio of 1.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Monday, April 2nd will be given a $0.43 dividend. This is a boost 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 yield of 7.99%. Corecivic’s dividend payout ratio is presently 112.00%.
In other Corecivic news, Director Mark A. Emkes acquired 5,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average price of $21.17 per share, for a total transaction of $105,850.00. Following the completion of the transaction, the director now owns 56,488 shares of the company’s stock, valued at approximately $1,195,850.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CXW. State of Alaska Department of Revenue grew its holdings in Corecivic by 12.7% in the fourth quarter. State of Alaska Department of Revenue now owns 74,085 shares of the real estate investment trust’s stock valued at $1,666,000 after purchasing an additional 8,335 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Corecivic by 135.6% in the third quarter. Allianz Asset Management GmbH now owns 30,706 shares of the real estate investment trust’s stock valued at $822,000 after purchasing an additional 17,672 shares during the last quarter. California Public Employees Retirement System grew its holdings in Corecivic by 3.8% in the fourth quarter. California Public Employees Retirement System now owns 477,768 shares of the real estate investment trust’s stock valued at $10,750,000 after purchasing an additional 17,346 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Corecivic in the fourth quarter valued at $13,036,000. Finally, Legal & General Group Plc grew its holdings in Corecivic by 3.5% in the third quarter. Legal & General Group Plc now owns 181,832 shares of the real estate investment trust’s stock valued at $4,865,000 after purchasing an additional 6,212 shares during the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “$0.51 EPS Expected for Corecivic Inc (CXW) This Quarter” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2018/03/14/0-51-eps-expected-for-corecivic-inc-cxw-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.