Corecivic (CXW) Releases Q2 Earnings Guidance

Corecivic (NYSE:CXW) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.62 to $0.64 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.57.

Shares of NYSE:CXW traded up $0.04 during trading on Friday, hitting $21.79. 2,132 shares of the company traded hands, compared to its average volume of 435,702. The firm has a market capitalization of $2.58 billion, a PE ratio of 9.42 and a beta of 1.33. Corecivic has a one year low of $17.16 and a one year high of $26.09. 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 (NYSE:CXW) last posted its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.41 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $484.06 million for the quarter, compared to the consensus estimate of $466.75 million. During the same period last year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts predict that Corecivic will post 2.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Monday, July 1st will be given a $0.44 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.76 dividend on an annualized basis and a yield of 8.08%. Corecivic’s dividend payout ratio (DPR) is 76.19%.

CXW has been the subject of a number of research analyst reports. ValuEngine upgraded Corecivic from a strong sell rating to a sell rating in a research report on Monday, February 4th. Zacks Investment Research downgraded Corecivic from a hold rating to a sell rating in a research report on Thursday, February 7th.

In other news, Director Thurgood Marshall, Jr. sold 7,200 shares of the stock in a transaction on Friday, March 29th. The stock was sold at an average price of $19.30, for a total transaction of $138,960.00. Following the completion of the sale, the director now owns 36,447 shares in the company, valued at approximately $703,427.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.24% of the stock is currently owned by corporate insiders.

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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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Earnings History and Estimates for Corecivic (NYSE:CXW)

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