Zacks: Brokerages Expect CoreCivic (CXW) to Post $0.51 EPS

Analysts expect CoreCivic (NYSE:CXW) to report earnings per share (EPS) of $0.51 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for CoreCivic’s earnings. The lowest EPS estimate is $0.51 and the highest is $0.52. CoreCivic reported earnings per share of $0.63 in the same quarter last year, which would indicate a negative year-over-year growth rate of 19%. The business is expected to report its next quarterly earnings results on Wednesday, May 2nd.

According to Zacks, analysts expect that CoreCivic will report full-year earnings of $2.23 per share for the current year, with EPS estimates ranging from $2.22 to $2.24. For the next fiscal year, analysts forecast that the firm will post earnings of $2.23 per share, with EPS estimates ranging from $2.21 to $2.26. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover CoreCivic.

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CoreCivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.15). The firm had revenue of $440.58 million for the quarter, compared to analyst estimates of $429.88 million. CoreCivic had a return on equity of 12.61% and a net margin of 10.08%.

Several research firms recently issued reports on CXW. Zacks Investment Research lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Deutsche Bank cut their target price on shares of CoreCivic from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Finally, ValuEngine lowered shares of CoreCivic from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $32.75.

In other CoreCivic news, Director Mark A. Emkes purchased 5,000 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were bought at an average price of $21.17 per share, for a total transaction of $105,850.00. Following the completion of the acquisition, the director now owns 56,488 shares in the company, valued at $1,195,850.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of CXW. New York State Common Retirement Fund lifted its holdings in shares of CoreCivic by 4.3% during the third quarter. New York State Common Retirement Fund now owns 261,000 shares of the real estate investment trust’s stock worth $6,987,000 after purchasing an additional 10,800 shares during the period. Legal & General Group Plc raised its stake in CoreCivic by 3.5% during the third quarter. Legal & General Group Plc now owns 181,832 shares of the real estate investment trust’s stock worth $4,865,000 after buying an additional 6,212 shares during the last quarter. Schroder Investment Management Group raised its stake in CoreCivic by 690.0% during the third quarter. Schroder Investment Management Group now owns 16,589 shares of the real estate investment trust’s stock worth $435,000 after buying an additional 14,489 shares during the last quarter. Wells Fargo & Company MN raised its stake in CoreCivic by 7.9% during the third quarter. Wells Fargo & Company MN now owns 424,547 shares of the real estate investment trust’s stock worth $11,364,000 after buying an additional 31,200 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in CoreCivic by 135.6% during the third quarter. Allianz Asset Management GmbH now owns 30,706 shares of the real estate investment trust’s stock worth $822,000 after buying an additional 17,672 shares during the last quarter. Institutional investors own 79.84% of the company’s stock.

Shares of NYSE CXW traded up $0.08 during trading hours on Tuesday, hitting $20.37. 256,116 shares of the stock were exchanged, compared to its average volume of 955,367. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $2,358.17, a price-to-earnings ratio of 8.79, a P/E/G ratio of 1.49 and a beta of 0.92. CoreCivic has a 1-year low of $18.61 and a 1-year high of $35.10.

The business also recently announced a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Monday, April 2nd were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, March 29th. This represents a $1.72 dividend on an annualized basis and a yield of 8.44%. This is a positive change from CoreCivic’s previous quarterly dividend of $0.42. CoreCivic’s dividend payout ratio (DPR) is currently 74.14%.

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CoreCivic Company Profile

The Company 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, government real estate solutions, and a growing network of residential reentry centers to help address America's recidivism crisis.

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Earnings History and Estimates for CoreCivic (NYSE:CXW)

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