Wall Street brokerages expect that Corecivic Inc (NYSE:CXW) will post earnings per share of $0.62 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Corecivic’s earnings. Corecivic reported earnings per share of $0.56 in the same quarter last year, which suggests a positive year over year growth rate of 10.7%. The business is expected to issue its next quarterly earnings results on Wednesday, February 13th.

On average, analysts expect that Corecivic will report full-year earnings of $2.30 per share for the current year, with EPS estimates ranging from $2.29 to $2.30. For the next year, analysts forecast that the company will report earnings of $2.43 per share, with EPS estimates ranging from $2.38 to $2.47. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Corecivic.

Corecivic (NYSE:CXW) last released its earnings results on Monday, November 5th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The firm had revenue of $462.73 million for the quarter, compared to the consensus estimate of $454.79 million. Corecivic had a return on equity of 11.64% and a net margin of 8.88%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS.

A number of equities research analysts recently commented on CXW shares. ValuEngine upgraded Corecivic from a “strong sell” rating to a “sell” rating in a report on Monday, November 12th. Zacks Investment Research downgraded Corecivic from a “hold” rating to a “sell” rating in a report on Monday, December 3rd. Wells Fargo & Co set a $24.00 price objective on Corecivic and gave the company a “hold” rating in a report on Monday, December 3rd. Finally, TheStreet downgraded Corecivic from a “b-” rating to a “c+” rating in a report on Tuesday, December 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Corecivic has a consensus rating of “Hold” and a consensus price target of $25.67.

CXW stock opened at $19.29 on Tuesday. The firm has a market cap of $2.26 billion, a PE ratio of 8.31 and a beta of 1.19. Corecivic has a twelve month low of $17.16 and a twelve month high of $26.09. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.23.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, January 2nd will be issued a $0.43 dividend. The ex-dividend date is Monday, December 31st. This represents a $1.72 dividend on an annualized basis and a yield of 8.92%. Corecivic’s dividend payout ratio is presently 74.14%.

In related news, CFO David Garfinkle sold 5,010 shares of the company’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $21.70, for a total value of $108,717.00. Following the completion of the sale, the chief financial officer now owns 105,082 shares in the company, valued at $2,280,279.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Corecivic by 0.5% in the third quarter. Vanguard Group Inc. now owns 17,209,019 shares of the real estate investment trust’s stock worth $418,695,000 after acquiring an additional 90,081 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Corecivic by 0.5% during the third quarter. Vanguard Group Inc now owns 17,209,019 shares of the real estate investment trust’s stock worth $418,695,000 after buying an additional 90,081 shares during the period. BlackRock Inc. boosted its position in shares of Corecivic by 2.6% during the third quarter. BlackRock Inc. now owns 14,146,134 shares of the real estate investment trust’s stock worth $344,175,000 after buying an additional 357,107 shares during the period. FMR LLC boosted its position in shares of Corecivic by 15.4% during the third quarter. FMR LLC now owns 7,140,571 shares of the real estate investment trust’s stock worth $173,732,000 after buying an additional 950,910 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Corecivic by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 3,628,022 shares of the real estate investment trust’s stock worth $88,269,000 after buying an additional 113,046 shares during the period. Institutional investors and hedge funds own 81.60% of the company’s stock.

About Corecivic

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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