Corecivic Inc (NYSE:CXW) – Equities researchers at SunTrust Banks lowered their FY2018 earnings per share (EPS) estimates for Corecivic in a research report issued on Tuesday, November 6th. SunTrust Banks analyst T. Sommer now anticipates that the real estate investment trust will post earnings per share of $2.30 for the year, down from their prior forecast of $2.32. SunTrust Banks also issued estimates for Corecivic’s Q4 2018 earnings at $0.62 EPS and FY2020 earnings at $2.57 EPS.
Corecivic (NYSE:CXW) last released its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.04). The business had revenue of $462.73 million during the quarter, compared to the consensus estimate of $454.79 million. Corecivic had a return on equity of 11.64% and a net margin of 8.88%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share.
Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Corecivic from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Monday, August 20th. ValuEngine raised shares of Corecivic from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Corecivic currently has an average rating of “Hold” and an average target price of $32.67.
CXW opened at $22.18 on Friday. The company has a market capitalization of $2.58 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. Corecivic has a 12 month low of $18.61 and a 12 month high of $26.49. The company has a quick ratio of 1.19, a current ratio of 1.14 and a debt-to-equity ratio of 1.23.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.75%. The ex-dividend date was Friday, September 28th. Corecivic’s payout ratio is 74.14%.
In other Corecivic news, EVP Kim White sold 10,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $25.11, for a total value of $251,100.00. Following the completion of the transaction, the executive vice president now directly owns 26,036 shares of the company’s stock, valued at approximately $653,763.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Charles L. Overby sold 43,712 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $25.26, for a total transaction of $1,104,165.12. Following the completion of the transaction, the director now directly owns 57,067 shares of the company’s stock, valued at $1,441,512.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 91,136 shares of company stock valued at $2,319,353. Insiders own 1.30% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Corecivic during the 2nd quarter worth $226,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Corecivic during the 2nd quarter worth $226,000. Argent Trust Co bought a new stake in shares of Corecivic during the 2nd quarter worth $239,000. Pinebridge Investments L.P. lifted its holdings in shares of Corecivic by 254.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 10,032 shares of the real estate investment trust’s stock worth $240,000 after acquiring an additional 7,202 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV bought a new stake in shares of Corecivic during the 3rd quarter worth $258,000. 83.69% of the stock is owned by hedge funds and other 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, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.
Further Reading: Growth Stocks
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