Corecivic (NYSE:CXW) Issues FY 2019 Earnings Guidance

Corecivic (NYSE:CXW) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided EPS guidance of $2.58-2.62 for the period. Corecivic also updated its Q3 2019 guidance to $0.60-0.62 EPS.

NYSE:CXW traded up $0.20 during midday trading on Monday, hitting $16.80. The company’s stock had a trading volume of 1,168,344 shares, compared to its average volume of 731,330. Corecivic has a fifty-two week low of $15.56 and a fifty-two week high of $26.09. The company’s 50 day simple moving average is $19.48. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 7.27 and a beta of 1.08.

Corecivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.18). The firm had revenue of $484.06 million during the quarter, compared to analysts’ expectations of $466.75 million. Corecivic had a net margin of 9.09% and a return on equity of 12.72%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 EPS. On average, sell-side analysts anticipate that Corecivic will post 2.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Monday, July 1st were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 10.48%. The ex-dividend date of this dividend was Friday, June 28th. Corecivic’s dividend payout ratio (DPR) is presently 76.19%.

A number of analysts have issued reports on the company. TheStreet downgraded Corecivic from a b- rating to a c+ rating in a research report on Wednesday, July 17th. Zacks Investment Research downgraded Corecivic from a buy rating to a hold rating in a research report on Wednesday, July 17th. Finally, ValuEngine downgraded Corecivic from a sell rating to a strong sell rating in a research report on Tuesday, July 2nd.

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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