Wall Street analysts expect that Corecivic Inc (NYSE:CXW) will post sales of $432.75 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Corecivic’s earnings, with the highest sales estimate coming in at $439.78 million and the lowest estimate coming in at $425.71 million. Corecivic posted sales of $436.39 million during the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The firm 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 fiscal year, analysts anticipate that the company will post sales of $1.74 billion per share, with estimates ranging from $1.73 billion to $1.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Corecivic.
A number of research analysts recently issued reports on CXW shares. Zacks Investment Research upgraded Corecivic from a “sell” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, May 9th. ValuEngine downgraded Corecivic from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, TheStreet upgraded Corecivic from a “c” rating to a “b-” rating in a research note on Monday, June 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $32.50.
In other Corecivic news, CFO David Garfinkle sold 5,010 shares of the company’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $25.31, for a total value of $126,803.10. Following the completion of the transaction, the chief financial officer now directly owns 105,082 shares in the company, valued at approximately $2,659,625.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Damon T. Hininger sold 14,027 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $26.00, for a total value of $364,702.00. Following the completion of the transaction, the chief executive officer now owns 238,785 shares of the company’s stock, valued at $6,208,410. The disclosure for this sale can be found here. Insiders sold a total of 22,337 shares of company stock valued at $561,102 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Point72 Asia Hong Kong Ltd bought a new position in Corecivic in the 1st quarter worth approximately $165,000. Virtu Financial LLC bought a new position in Corecivic in the 2nd quarter worth approximately $226,000. Raymond James Financial Services Advisors Inc. bought a new position in Corecivic in the 2nd quarter worth approximately $226,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Corecivic by 77.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,296 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 4,478 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in Corecivic in the 1st quarter worth approximately $282,000. Institutional investors and hedge funds own 78.84% of the company’s stock.
Shares of Corecivic traded down $0.36, reaching $25.40, during mid-day trading on Thursday, Marketbeat.com reports. 430,675 shares of the company traded hands, compared to its average volume of 805,306. The company has a market cap of $3.04 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.01. Corecivic has a 52 week low of $18.61 and a 52 week high of $27.50.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 16th. Investors of record on Monday, July 2nd were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, June 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.77%. Corecivic’s dividend payout ratio (DPR) is presently 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, government real estate solutions, and a growing network of residential reentry centers to help address America's recidivism crisis.
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