Analysts expect Corecivic Inc (NYSE:CXW) to post $456.00 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Corecivic’s earnings. The highest sales estimate is $466.57 million and the lowest is $445.43 million. Corecivic posted sales of $440.58 million during the same quarter last year, which suggests a positive year over year growth rate of 3.5%. The company is scheduled to report its next earnings results on Wednesday, February 13th.
On average, analysts expect that Corecivic will report full year sales of $1.81 billion for the current financial year, with estimates ranging from $1.80 billion to $1.82 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.82 billion, with estimates ranging from $1.80 billion to $1.84 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Corecivic.
Corecivic (NYSE:CXW) last issued its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). Corecivic had a net margin of 8.88% and a return on equity of 11.64%. The firm had revenue of $462.73 million during the quarter, compared to analyst estimates of $454.79 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year.
In related news, CEO Damon T. Hininger sold 35,324 shares of the business’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $25.75, for a total transaction of $909,593.00. Following the completion of the transaction, the chief executive officer now directly owns 260,082 shares of the company’s stock, valued at approximately $6,697,111.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CXW. Tower Research Capital LLC TRC grew its stake in Corecivic by 411.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,764 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 5,441 shares in the last quarter. Virtu Financial LLC acquired a new position in Corecivic during the 2nd quarter worth $226,000. Raymond James Financial Services Advisors Inc. acquired a new position in Corecivic during the 2nd quarter worth $226,000. Argent Trust Co acquired a new position in Corecivic during the 2nd quarter worth $239,000. Finally, Pinebridge Investments L.P. grew its stake in Corecivic by 254.5% during the 2nd quarter. Pinebridge Investments L.P. now owns 10,032 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 7,202 shares in the last quarter. 85.89% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE CXW traded down $0.06 during trading on Friday, reaching $21.95. The stock had a trading volume of 1,234,573 shares, compared to its average volume of 641,323. Corecivic has a fifty-two week low of $18.61 and a fifty-two week high of $26.09. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $2.61 billion, a PE ratio of 9.46, a PEG ratio of 1.59 and a beta of 1.01.
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, a growing network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.
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