Corecivic (NYSE:CXW) Shares Down 5.9%

Corecivic Inc (NYSE:CXW)’s share price dropped 5.9% on Thursday . The stock traded as low as $18.13 and last traded at $18.19, approximately 2,348,261 shares traded hands during mid-day trading. An increase of 262% from the average daily volume of 649,429 shares. The stock had previously closed at $19.34.

CXW has been the subject of several recent analyst reports. TheStreet downgraded shares of Worthington Industries from a “b-” rating to a “c+” rating in a report on Monday, June 10th. Zacks Investment Research raised shares of Grana y Montero SAA from a “sell” rating to a “hold” rating in a report on Monday, June 10th. Finally, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

The stock has a market capitalization of $2.34 billion, a P/E ratio of 7.87 and a beta of 1.09. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.32. The stock has a fifty day simple moving average of $21.88.

Corecivic (NYSE:CXW) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.18). The firm had revenue of $484.06 million during the quarter, compared to the consensus estimate of $466.75 million. Corecivic had a return on equity of 12.72% and a net margin of 9.09%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. On average, equities analysts forecast that Corecivic Inc will post 2.5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Monday, July 1st will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 9.68%. The ex-dividend date is Friday, June 28th. Corecivic’s dividend payout ratio is currently 76.19%.

Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC lifted its stake in Corecivic by 17.1% in the 1st quarter. Advisory Services Network LLC now owns 3,591 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 524 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Corecivic by 1.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 47,474 shares of the real estate investment trust’s stock worth $923,000 after purchasing an additional 581 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Corecivic by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 154,494 shares of the real estate investment trust’s stock worth $3,005,000 after purchasing an additional 618 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Corecivic by 0.9% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 78,600 shares of the real estate investment trust’s stock worth $1,529,000 after purchasing an additional 700 shares in the last quarter. Finally, Alpha Windward LLC lifted its stake in Corecivic by 3.4% in the 1st quarter. Alpha Windward LLC now owns 23,854 shares of the real estate investment trust’s stock worth $464,000 after purchasing an additional 780 shares in the last quarter. 80.65% of the stock is owned by institutional investors.

About Corecivic (NYSE:CXW)

CoreCivic 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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