Corecivic (NYSE:CXW) Cut to “Sell” at ValuEngine

ValuEngine downgraded shares of Corecivic (NYSE:CXW) from a hold rating to a sell rating in a report issued on Monday morning, ValuEngine reports.

CXW has been the subject of several other research reports. TheStreet upgraded shares of Corecivic from a c+ rating to a b- rating in a report on Monday, June 10th. Zacks Investment Research upgraded shares of Corecivic from a hold rating to a buy rating and set a $22.00 price target for the company in a report on Wednesday, March 13th.

Corecivic stock opened at $20.67 on Monday. 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 has a 52-week low of $17.16 and a 52-week high of $26.09. The stock’s 50 day moving average price is $22.38. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 8.95 and a beta of 1.18.

Corecivic (NYSE:CXW) last released its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.18). Corecivic had a return on equity of 12.72% and a net margin of 9.09%. The firm had revenue of $484.06 million for the quarter, compared to the consensus estimate of $466.75 million. During the same quarter in the previous year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts expect that Corecivic will post 2.5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.76 annualized dividend and a yield of 8.51%. Corecivic’s payout ratio is 76.19%.

In other Corecivic news, Director Thurgood Marshall, Jr. sold 7,200 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $19.30, for a total transaction of $138,960.00. Following the completion of the transaction, the director now owns 36,447 shares in the company, valued at approximately $703,427.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.24% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in CXW. Orrstown Financial Services Inc. bought a new stake in Corecivic during the 1st quarter valued at $36,000. Carroll Financial Associates Inc. increased its stake in Corecivic by 250.2% during the 1st quarter. Carroll Financial Associates Inc. now owns 2,157 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,541 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in Corecivic during the 1st quarter valued at $49,000. Advisory Services Network LLC increased its stake in Corecivic by 17.1% during the 1st quarter. Advisory Services Network LLC now owns 3,591 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 524 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Corecivic by 6.6% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 11,310 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 705 shares in the last quarter. Institutional investors own 80.68% of the company’s stock.

Corecivic Company Profile

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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