$0.41 Earnings Per Share Expected for CoreCivic, Inc. (NYSE:CXW) This Quarter

Wall Street analysts expect CoreCivic, Inc. (NYSE:CXW – Get Rating) to announce earnings of $0.41 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for CoreCivic’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.39. CoreCivic posted earnings of $0.44 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 6.8%. The business is expected to announce its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that CoreCivic will report full year earnings of $1.66 per share for the current fiscal year, with EPS estimates ranging from $1.63 to $1.70. For the next fiscal year, analysts expect that the firm will post earnings of $1.85 per share. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for CoreCivic.

CoreCivic (NYSE:CXW – Get Rating) last issued its earnings results on Tuesday, February 8th. The real estate investment trust reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. CoreCivic had a negative net margin of 2.79% and a positive return on equity of 9.54%. During the same quarter last year, the company earned $0.63 EPS.

Several analysts have recently commented on CXW shares. StockNews.com started coverage on shares of CoreCivic in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Wedbush upgraded shares of CoreCivic from a “neutral” rating to an “outperform” rating and set a $17.00 target price on the stock in a research report on Thursday, April 14th. Finally, Wells Fargo & Company upgraded shares of CoreCivic from a “neutral” rating to an “outperform” rating and set a $17.00 target price on the stock in a research report on Thursday, April 14th.

In related news, Director Mark A. Emkes purchased 10,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were bought at an average price of $8.52 per share, with a total value of $85,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.93% of the company’s stock.

A number of large investors have recently bought and sold shares of CXW. Amundi Pioneer Asset Management Inc. raised its stake in shares of CoreCivic by 50.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 558,824 shares of the real estate investment trust’s stock valued at $10,868,000 after acquiring an additional 186,221 shares during the period. Morgan Stanley raised its stake in shares of CoreCivic by 100.0% in the 2nd quarter. Morgan Stanley now owns 983,136 shares of the real estate investment trust’s stock valued at $10,293,000 after acquiring an additional 491,567 shares during the period. Maryland State Retirement & Pension System purchased a new position in shares of CoreCivic in the 3rd quarter valued at $428,000. SG Americas Securities LLC purchased a new position in shares of CoreCivic in the 3rd quarter valued at $1,448,000. Finally, Clear Harbor Asset Management LLC raised its stake in shares of CoreCivic by 26.9% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 133,545 shares of the real estate investment trust’s stock valued at $1,189,000 after acquiring an additional 28,325 shares during the period. 83.03% of the stock is currently owned by institutional investors.

Shares of CXW stock traded up $0.24 during trading hours on Thursday, hitting $13.00. The company’s stock had a trading volume of 478,162 shares, compared to its average volume of 875,076. The business has a fifty day moving average of $10.51 and a 200-day moving average of $10.24. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -29.55 and a beta of 1.00. CoreCivic has a twelve month low of $7.37 and a twelve month high of $14.24. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.09.

About CoreCivic (Get Rating)

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.

Read More