TheStreet downgraded shares of Corecivic Inc (NYSE:CXW) from a b- rating to a c+ rating in a report released on Monday.
Other equities research analysts have also recently issued reports about the company. BidaskClub cut Corecivic from a hold rating to a sell rating in a research note on Wednesday, June 21st. Zacks Investment Research raised Corecivic from a hold rating to a buy rating and set a $28.00 price objective on the stock in a research note on Thursday. ValuEngine raised Corecivic from a buy rating to a strong-buy rating in a research note on Friday, August 18th. Finally, Canaccord Genuity reissued a buy rating and set a $34.00 price objective on shares of Corecivic in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $29.75.
Corecivic (CXW) traded down 0.40% during mid-day trading on Monday, reaching $24.68. The company had a trading volume of 175,319 shares. The stock has a market capitalization of $2.92 billion, a P/E ratio of 13.73 and a beta of 0.92. The stock has a 50 day moving average price of $26.87 and a 200-day moving average price of $30.37. Corecivic has a 12-month low of $12.99 and a 12-month high of $35.33.
Corecivic (NYSE:CXW) last issued its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.23. Corecivic had a return on equity of 12.47% and a net margin of 10.42%. The company had revenue of $436.39 million for the quarter, compared to analysts’ expectations of $437.92 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Equities analysts anticipate that Corecivic will post $1.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be given a dividend of $0.42 per share. The ex-dividend date is Friday, September 29th. This represents a $1.68 annualized dividend and a dividend yield of 6.78%. Corecivic’s dividend payout ratio (DPR) is presently 93.86%.
In other Corecivic news, Director Mark A. Emkes bought 5,000 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of $25.62 per share, for a total transaction of $128,100.00. Following the completion of the transaction, the director now directly owns 44,426 shares of the company’s stock, valued at $1,138,194.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC raised its position in shares of Corecivic by 46.4% in the fourth quarter. Teachers Advisors LLC now owns 247,185 shares of the real estate investment trust’s stock valued at $6,046,000 after buying an additional 78,389 shares during the period. Bank of Montreal Can raised its position in shares of Corecivic by 1.1% in the first quarter. Bank of Montreal Can now owns 74,881 shares of the real estate investment trust’s stock valued at $2,353,000 after buying an additional 781 shares during the period. Capstone Asset Management Co. raised its position in shares of Corecivic by 1.4% in the first quarter. Capstone Asset Management Co. now owns 12,446 shares of the real estate investment trust’s stock valued at $391,000 after buying an additional 170 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Corecivic by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 29,700 shares of the real estate investment trust’s stock valued at $933,000 after buying an additional 600 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Corecivic during the first quarter valued at about $172,000. Institutional investors and hedge funds own 88.79% of the company’s stock.
About Corecivic
CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.
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