Corecivic (NYSE:CXW) Cut to “C+” at TheStreet

TheStreet downgraded shares of Corecivic (NYSE:CXW) from a b- rating to a c+ rating in a research report released on Wednesday, TheStreetRatingsTable reports.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of H&E Equipment Services from a hold rating to a sell rating in a research note on Wednesday. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd.

Corecivic stock opened at $16.63 on Wednesday. The firm has a market capitalization of $1.98 billion, a P/E ratio of 7.20 and a beta of 1.09. The stock has a fifty day simple moving average of $21.15. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.32. Corecivic has a 12 month low of $16.60 and a 12 month high of $26.09.



Corecivic (NYSE:CXW) last announced its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.18). Corecivic had a net margin of 9.09% and a return on equity of 12.72%. The firm had revenue of $484.06 million for the quarter, compared to analyst estimates of $466.75 million. During the same period last year, the firm posted $0.53 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. On average, research analysts predict that Corecivic will post 2.47 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Monday, July 1st were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 10.58%. The ex-dividend date of this dividend was Friday, June 28th. Corecivic’s dividend payout ratio is currently 76.19%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. raised its position in Corecivic by 94.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 372,603 shares of the real estate investment trust’s stock worth $6,644,000 after acquiring an additional 180,656 shares in the last quarter. 6 Meridian bought a new stake in Corecivic in the first quarter worth about $474,000. ARP Americas LP raised its position in Corecivic by 177.7% in the first quarter. ARP Americas LP now owns 92,256 shares of the real estate investment trust’s stock worth $1,794,000 after acquiring an additional 59,035 shares in the last quarter. NumerixS Investment Technologies Inc raised its position in Corecivic by 26.8% in the first quarter. NumerixS Investment Technologies Inc now owns 15,600 shares of the real estate investment trust’s stock worth $308,000 after acquiring an additional 3,300 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Corecivic by 20.9% in the first quarter. First Trust Advisors LP now owns 440,000 shares of the real estate investment trust’s stock worth $8,558,000 after acquiring an additional 76,008 shares in the last quarter. Institutional investors and hedge funds own 80.68% of the company’s stock.

About Corecivic

CoreCivic 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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