Corecivic Inc (NYSE:CXW) was the target of a significant decline in short interest during the month of January. As of January 12th, there was short interest totalling 1,456,364 shares, a decline of 34.9% from the December 29th total of 2,236,497 shares. Based on an average daily trading volume, of 1,095,666 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.2% of the company’s stock are short sold.
Corecivic (NYSE CXW) opened at $22.31 on Friday. Corecivic has a one year low of $21.41 and a one year high of $35.33. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $2,640.00, a price-to-earnings ratio of 13.36, a PEG ratio of 1.70 and a beta of 0.85.
Corecivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Corecivic had a return on equity of 13.54% and a net margin of 11.03%. The firm had revenue of $442.80 million during the quarter, compared to analysts’ expectations of $437.18 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. The company’s revenue was down 6.8% on a year-over-year basis. research analysts expect that Corecivic will post 2.34 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 7.53%. The ex-dividend date of this dividend was Friday, December 29th. Corecivic’s dividend payout ratio is currently 100.60%.
A number of research analysts have issued reports on the company. ValuEngine cut Corecivic from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research cut Corecivic from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Finally, SunTrust Banks reiterated a “buy” rating and set a $37.00 price objective on shares of Corecivic in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $33.25.
Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Corecivic by 4.5% in the third quarter. Bank of New York Mellon Corp now owns 2,140,892 shares of the real estate investment trust’s stock worth $57,312,000 after purchasing an additional 92,348 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Corecivic by 13.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,451,950 shares of the real estate investment trust’s stock worth $32,669,000 after purchasing an additional 176,175 shares during the last quarter. Lee Danner & Bass Inc. raised its stake in shares of Corecivic by 7.1% in the fourth quarter. Lee Danner & Bass Inc. now owns 1,303,017 shares of the real estate investment trust’s stock worth $29,318,000 after purchasing an additional 86,301 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Corecivic by 0.7% in the fourth quarter. Jennison Associates LLC now owns 1,176,019 shares of the real estate investment trust’s stock worth $26,460,000 after acquiring an additional 8,108 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Corecivic by 23.4% in the second quarter. Renaissance Technologies LLC now owns 1,140,003 shares of the real estate investment trust’s stock worth $31,441,000 after acquiring an additional 216,400 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.
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Corecivic Company Profile
CoreCivic, Inc, formerly Corrections Corporation of America, is a diversified government solutions company. The Company provides partnership correctional, detention and residential reentry facilities and operates prison in the United States. The Company’s business offerings include CoreCivic Safety, CoreCivic Properties, and CoreCivic Community.
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