Corecivic (NYSE:CXW) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Corecivic (NYSE:CXW) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07, Briefing.com reports. Corecivic had a net margin of 9.09% and a return on equity of 12.72%. The company had revenue of $490.29 million during the quarter, compared to the consensus estimate of $483.78 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year.

CXW traded up $0.64 during trading hours on Tuesday, hitting $17.44. 1,478,380 shares of the company’s stock were exchanged, compared to its average volume of 736,403. Corecivic has a 1-year low of $15.56 and a 1-year high of $26.09. The firm has a 50-day moving average price of $19.04. The company has a market capitalization of $2.01 billion, a PE ratio of 7.55 and a beta of 1.07. 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Monday, July 1st were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 10.09%. The ex-dividend date of this dividend was Friday, June 28th. Corecivic’s payout ratio is 76.19%.

Several brokerages have recently issued reports on CXW. ValuEngine downgraded shares of Corecivic from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. TheStreet downgraded shares of Corecivic from a “b-” rating to a “c+” rating in a research report on Wednesday, July 17th. Finally, Zacks Investment Research downgraded shares of Corecivic from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Corecivic by 1.6% during the first quarter. BlackRock Inc. now owns 14,556,986 shares of the real estate investment trust’s stock worth $283,135,000 after purchasing an additional 225,471 shares during the last quarter. LSV Asset Management boosted its holdings in Corecivic by 17.9% during the first quarter. LSV Asset Management now owns 1,524,613 shares of the real estate investment trust’s stock worth $29,653,000 after purchasing an additional 231,500 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Corecivic by 15.5% during the first quarter. JPMorgan Chase & Co. now owns 1,343,734 shares of the real estate investment trust’s stock worth $26,136,000 after purchasing an additional 179,894 shares during the last quarter. Anchor Capital Advisors LLC boosted its holdings in Corecivic by 23.1% during the first quarter. Anchor Capital Advisors LLC now owns 830,454 shares of the real estate investment trust’s stock worth $16,152,000 after purchasing an additional 156,060 shares during the last quarter. Finally, Spectrum Financial Alliance Ltd LLC boosted its holdings in Corecivic by 0.8% during the first quarter. Spectrum Financial Alliance Ltd LLC now owns 707,060 shares of the real estate investment trust’s stock worth $13,668,000 after purchasing an additional 5,689 shares during the last quarter. Institutional investors and hedge funds own 80.67% 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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Earnings History for Corecivic (NYSE:CXW)

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