Equities analysts expect Corecivic Inc (NYSE:CXW) to report sales of $454.78 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Corecivic’s earnings. The highest sales estimate is $462.33 million and the lowest is $447.24 million. Corecivic posted sales of $442.85 million in the same quarter last year, which suggests a positive year over year growth rate of 2.7%. The business is expected to issue its next quarterly earnings report after the market closes on Monday, November 5th.
According to Zacks, analysts expect that Corecivic will report full-year sales of $1.80 billion for the current fiscal year, with estimates ranging from $1.78 billion to $1.82 billion. For the next year, analysts expect that the firm will post sales of $1.82 billion, with estimates ranging from $1.80 billion to $1.84 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). The business had revenue of $449.93 million for the quarter, compared to the consensus estimate of $435.61 million. Corecivic had a net margin of 8.99% and a return on equity of 11.44%. Corecivic’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS.
CXW stock opened at $22.46 on Thursday. The firm has a market cap of $2.81 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. Corecivic has a 52-week low of $18.61 and a 52-week high of $26.49. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.66%. The ex-dividend date of this dividend was Friday, September 28th. Corecivic’s dividend payout ratio (DPR) is presently 74.14%.
In other news, Director Thurgood Marshall, Jr. sold 2,100 shares of the stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $25.95, for a total transaction of $54,495.00. Following the completion of the sale, the director now directly owns 31,221 shares in the company, valued at $810,184.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles L. Overby sold 43,712 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $25.26, for a total transaction of $1,104,165.12. Following the sale, the director now 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 quarter, insiders have sold 106,733 shares of company stock valued at $2,716,921. 1.30% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Corecivic by 27.7% during the second quarter. BlackRock Inc. now owns 13,789,027 shares of the real estate investment trust’s stock worth $329,422,000 after buying an additional 2,988,840 shares during the period. Bank of New York Mellon Corp increased its position in shares of Corecivic by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 3,514,976 shares of the real estate investment trust’s stock worth $83,973,000 after buying an additional 190,010 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Corecivic by 30.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,459,114 shares of the real estate investment trust’s stock worth $58,748,000 after purchasing an additional 577,225 shares during the period. Renaissance Technologies LLC grew its holdings in Corecivic by 16.0% in the second quarter. Renaissance Technologies LLC now owns 2,166,703 shares of the real estate investment trust’s stock worth $51,763,000 after purchasing an additional 299,113 shares during the period. Finally, Northern Trust Corp grew its holdings in Corecivic by 57.8% in the second quarter. Northern Trust Corp now owns 1,952,332 shares of the real estate investment trust’s stock worth $46,641,000 after purchasing an additional 714,970 shares during the period. Institutional investors own 84.09% of the company’s stock.
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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