Corecivic Inc (NYSE:CXW) – Equities research analysts at SunTrust Banks upped their FY2018 earnings estimates for Corecivic in a report issued on Thursday, August 30th. SunTrust Banks analyst T. Sommer now expects that the real estate investment trust will post earnings per share of $2.32 for the year, up from their previous estimate of $2.31. SunTrust Banks also issued estimates for Corecivic’s Q4 2018 earnings at $0.65 EPS, Q2 2019 earnings at $0.61 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.66 EPS, FY2019 earnings at $2.47 EPS and FY2020 earnings at $2.58 EPS.

CXW has been the subject of several other research reports. Zacks Investment Research raised shares of Corecivic from a “sell” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Wednesday, May 9th. TheStreet raised shares of Corecivic from a “c” rating to a “b-” rating in a research note on Monday, June 25th. Finally, ValuEngine raised shares of Corecivic from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Corecivic has a consensus rating of “Buy” and an average target price of $32.67.

Shares of NYSE:CXW opened at $25.43 on Monday. The company has a market capitalization of $3.07 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.86 and a beta of 1.04. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04. Corecivic has a one year low of $18.61 and a one year high of $27.50.

Corecivic (NYSE:CXW) last issued its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). The company had revenue of $449.93 million during 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 for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS.

Hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd bought a new position in shares of Corecivic during the first quarter valued at $165,000. Virtu Financial LLC acquired a new stake in shares of Corecivic during the second quarter worth $226,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Corecivic during the second quarter worth $226,000. Argent Trust Co acquired a new stake in shares of Corecivic during the second quarter worth $239,000. Finally, Pinebridge Investments L.P. increased its position 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 worth $240,000 after buying an additional 7,202 shares during the period. 84.12% of the stock is owned by hedge funds and other institutional investors.

In other news, 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 owns 57,067 shares of the company’s stock, valued at $1,441,512.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thurgood Marshall, Jr. sold 2,100 shares of the firm’s 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 transaction, the director now directly owns 31,221 shares of the company’s stock, valued at approximately $810,184.95. 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 ninety days. Insiders own 1.30% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.76%. The ex-dividend date of this dividend is Friday, September 28th. 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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