Analysts expect Corecivic Inc (NYSE:CXW) to post earnings per share (EPS) of $0.59 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Corecivic’s earnings. The lowest EPS estimate is $0.58 and the highest is $0.59. Corecivic posted earnings of $0.55 per share during the same quarter last year, which suggests a positive year over year growth rate of 7.3%. The business is expected to issue its next earnings report on Wednesday, November 14th.

On average, analysts expect that Corecivic will report full year earnings of $2.32 per share for the current financial year, with EPS estimates ranging from $2.31 to $2.32. For the next fiscal year, analysts forecast that the firm will post earnings of $2.40 per share, with EPS estimates ranging from $2.32 to $2.47. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Corecivic.

Corecivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). The business had revenue of $449.93 million during the quarter, compared to analyst estimates of $435.61 million. Corecivic had a return on equity of 11.44% and a net margin of 8.99%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS.

A number of research firms recently weighed in on CXW. ValuEngine raised Corecivic from a “strong sell” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research cut Corecivic from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, TheStreet raised Corecivic from a “c” rating to a “b-” rating in a report on Monday, June 25th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $32.67.

In other Corecivic news, Director Thurgood Marshall, Jr. sold 2,100 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $25.95, for a total transaction of $54,495.00. Following the completion of the transaction, the director now owns 31,221 shares of the company’s stock, valued at $810,184.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thurgood Marshall, Jr. sold 3,300 shares of the stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $21.09, for a total value of $69,597.00. Following the transaction, the director now directly owns 33,321 shares of the company’s stock, valued at approximately $702,739.89. The disclosure for this sale can be found here. Insiders have sold 93,746 shares of company stock valued at $2,368,430 in the last three months. Insiders own 1.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Point72 Asia Hong Kong Ltd acquired a new position in shares of Corecivic during the first quarter valued at approximately $165,000. Virtu Financial LLC acquired a new position in shares of Corecivic during the second quarter valued at approximately $226,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Corecivic during the second quarter valued at approximately $226,000. Argent Trust Co acquired a new position in shares of Corecivic during the second quarter valued at approximately $239,000. Finally, Pinebridge Investments L.P. raised its holdings in shares of Corecivic by 254.5% during the second quarter. Pinebridge Investments L.P. now owns 10,032 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 7,202 shares during the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

NYSE CXW traded down $0.76 during trading hours on Monday, reaching $24.99. The company’s stock had a trading volume of 603,580 shares, compared to its average volume of 625,746. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.85 and a beta of 1.03. Corecivic has a 1-year low of $18.61 and a 1-year high of $27.50. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.04.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.88%. Corecivic’s payout ratio is currently 74.14%.

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.

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Earnings History and Estimates for Corecivic (NYSE:CXW)

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