Corecivic Inc (NYSE:CXW) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued to investors on Monday.
Several other brokerages also recently commented on CXW. Canaccord Genuity set a $36.00 price target on shares of Corecivic and gave the company a “buy” rating in a research report on Friday, May 19th. BidaskClub downgraded shares of Corecivic from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Corecivic from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Deutsche Bank AG upped their price target on shares of Corecivic from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, May 5th. Finally, ValuEngine upgraded shares of Corecivic from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $29.75.
Corecivic (NYSE:CXW) traded down 0.56% during midday trading on Monday, hitting $24.64. The stock had a trading volume of 159,584 shares. The firm has a market cap of $2.91 billion, a P/E ratio of 13.71 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 results on Monday, August 7th. The real estate investment trust reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.23. The business had revenue of $436.39 million during the quarter, compared to the consensus estimate of $437.92 million. Corecivic had a net margin of 10.42% and a return on equity of 12.47%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. On average, equities analysts anticipate that Corecivic will post $1.53 earnings per share for the current fiscal year.
In other Corecivic news, EVP Kim White sold 5,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $26.27, for a total value of $131,350.00. Following the completion of the sale, the executive vice president now owns 22,393 shares in the company, valued at approximately $588,264.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CXW. Vanguard Group Inc. increased its stake in Corecivic by 2.4% in the second quarter. Vanguard Group Inc. now owns 19,273,935 shares of the real estate investment trust’s stock worth $531,576,000 after buying an additional 459,903 shares during the last quarter. BlackRock Inc. increased its stake in Corecivic by 13,997.1% in the first quarter. BlackRock Inc. now owns 10,765,267 shares of the real estate investment trust’s stock worth $338,241,000 after buying an additional 10,688,902 shares during the last quarter. FMR LLC increased its stake in Corecivic by 108.8% in the first quarter. FMR LLC now owns 7,127,278 shares of the real estate investment trust’s stock worth $223,939,000 after buying an additional 3,713,585 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Corecivic by 43.4% in the second quarter. Daiwa Securities Group Inc. now owns 3,865,032 shares of the real estate investment trust’s stock worth $106,598,000 after buying an additional 1,170,205 shares during the last quarter. Finally, State Street Corp bought a new stake in Corecivic during the first quarter worth about $100,342,000. Institutional investors 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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