Analysts expect that Corecivic Inc (NYSE:CXW) will report sales of $432.75 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Corecivic’s earnings. The highest sales estimate is $439.78 million and the lowest is $425.71 million. Corecivic posted sales of $436.39 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.8%. The business is expected to issue its next earnings report after the market closes on Wednesday, August 8th.
According to Zacks, analysts expect that Corecivic will report full-year sales of $1.74 billion for the current year, with estimates ranging from $1.73 billion to $1.76 billion. For the next financial year, analysts forecast that the company will post sales of $1.73 billion per share, with estimates ranging from $1.70 billion to $1.76 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Corecivic.
Get Corecivic alerts:Corecivic (NYSE:CXW) last posted its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.22. Corecivic had a return on equity of 11.80% and a net margin of 9.41%. The business had revenue of $440.90 million for the quarter, compared to analysts’ expectations of $430.67 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year.
A number of analysts have recently commented on CXW shares. Zacks Investment Research upgraded Corecivic from a “sell” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, May 9th. ValuEngine cut Corecivic from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Finally, TheStreet upgraded Corecivic from a “c” rating to a “b-” rating in a research report on Monday, June 25th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $32.50.
In other news, Director Thurgood Marshall, Jr. sold 3,300 shares of Corecivic stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $21.09, for a total transaction of $69,597.00. Following the sale, the director now owns 33,321 shares in the company, valued at $702,739.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXW. Point72 Asia Hong Kong Ltd purchased a new position in shares of Corecivic during the first quarter worth about $165,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Corecivic by 77.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,296 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 4,478 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Corecivic during the fourth quarter worth about $240,000. Cubist Systematic Strategies LLC purchased a new position in shares of Corecivic during the first quarter worth about $282,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Corecivic during the second quarter worth about $319,000. 79.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CXW traded up $0.40 during midday trading on Friday, reaching $24.70. 84,581 shares of the stock were exchanged, compared to its average volume of 1,721,672. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.01 and a current ratio of 1.01. Corecivic has a twelve month low of $18.61 and a twelve month high of $29.23. The stock has a market capitalization of $2.87 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.78 and a beta of 0.93.
The company also recently announced a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Monday, July 2nd were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date was Friday, June 29th. Corecivic’s dividend payout ratio (DPR) is currently 74.14%.
About Corecivic
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, government real estate solutions, and a growing network of residential reentry centers to help address America's recidivism crisis.
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