Brokerages forecast that CoreCivic, Inc. (NYSE:CXW) will announce $463.55 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for CoreCivic’s earnings. The highest sales estimate is $482.09 million and the lowest is $445.00 million. CoreCivic reported sales of $472.64 million during the same quarter last year, which indicates a negative year over year growth rate of 1.9%. The firm is expected to announce its next earnings report on Wednesday, August 4th.
According to Zacks, analysts expect that CoreCivic will report full year sales of $1.85 billion for the current financial year, with estimates ranging from $1.78 billion to $1.92 billion. For the next financial year, analysts forecast that the business will post sales of $0.00. Zacks’ sales calculations are an average based on a survey of research firms that follow CoreCivic.
CoreCivic (NYSE:CXW) last posted its quarterly earnings data on Wednesday, May 5th. The real estate investment trust reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. CoreCivic had a positive return on equity of 4.96% and a negative net margin of 5.54%.
Shares of CXW stock traded up $0.31 during trading hours on Tuesday, hitting $11.10. The stock had a trading volume of 43,863 shares, compared to its average volume of 2,655,812. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -12.40 and a beta of 1.26. CoreCivic has a twelve month low of $5.76 and a twelve month high of $13.27. The stock has a 50 day moving average price of $8.27. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.95 and a quick ratio of 1.95.
In other news, EVP Patrick D. Swindle sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $8.34, for a total transaction of $208,500.00. Following the completion of the sale, the executive vice president now owns 182,871 shares in the company, valued at $1,525,144.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.38% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its stake in shares of CoreCivic by 104.7% during the fourth quarter. Squarepoint Ops LLC now owns 328,160 shares of the real estate investment trust’s stock worth $2,149,000 after purchasing an additional 167,854 shares during the last quarter. Veriti Management LLC purchased a new position in CoreCivic in the fourth quarter worth $31,000. Rhumbline Advisers raised its position in CoreCivic by 11.4% in the fourth quarter. Rhumbline Advisers now owns 431,387 shares of the real estate investment trust’s stock worth $2,826,000 after acquiring an additional 44,309 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in CoreCivic by 4.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 71,454 shares of the real estate investment trust’s stock worth $468,000 after acquiring an additional 3,344 shares in the last quarter. Finally, Eidelman Virant Capital raised its position in CoreCivic by 3.4% in the first quarter. Eidelman Virant Capital now owns 75,100 shares of the real estate investment trust’s stock worth $664,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.
CoreCivic Company Profile
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: Oversold
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CoreCivic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoreCivic and related companies with MarketBeat.com's FREE daily email newsletter.