CoreCivic (CXW) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of CoreCivic (NYSE:CXW) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “CoreCivic, Inc. is a real estate investment trust which provides correctional, detention and residential reentry facilities. It designs, constructs, owns, manages and renovates jails, prisons, government agencies and inmate transportation companies. CoreCivic, Inc., formerly known as Corrections Corporation of America, is based in Nashville, Tennessee. “

A number of other brokerages have also recently issued reports on CXW. ValuEngine cut shares of CoreCivic from a buy rating to a hold rating in a research note on Friday, February 2nd. Deutsche Bank reduced their price objective on shares of CoreCivic from $35.00 to $33.00 and set a buy rating on the stock in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. CoreCivic currently has an average rating of Hold and an average price target of $32.25.

Shares of CoreCivic opened at $20.55 on Tuesday, MarketBeat.com reports. CoreCivic has a 52-week low of $20.54 and a 52-week high of $20.82. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.01.

CoreCivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.15). CoreCivic had a net margin of 9.41% and a return on equity of 11.80%. The business had revenue of $440.58 million during the quarter, compared to the consensus estimate of $429.88 million. equities analysts anticipate that CoreCivic will post 2.26 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, July 2nd will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 29th. This represents a $1.72 annualized dividend and a yield of 8.37%. CoreCivic’s dividend payout ratio (DPR) is presently 74.14%.

In other news, Director Mark A. Emkes bought 5,000 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were bought at an average cost of $21.17 per share, for a total transaction of $105,850.00. Following the completion of the acquisition, the director now owns 56,488 shares in the company, valued at approximately $1,195,850.96. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CXW. Spectrum Financial Alliance Ltd LLC acquired a new stake in CoreCivic in the first quarter worth $13,347,000. Millennium Management LLC raised its holdings in shares of CoreCivic by 39.9% during the first quarter. Millennium Management LLC now owns 2,329,941 shares of the real estate investment trust’s stock worth $45,480,000 after acquiring an additional 664,286 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CoreCivic during the fourth quarter worth $13,036,000. Prudential Financial Inc. raised its holdings in shares of CoreCivic by 25.2% during the first quarter. Prudential Financial Inc. now owns 2,756,438 shares of the real estate investment trust’s stock worth $53,806,000 after acquiring an additional 555,458 shares during the period. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of CoreCivic during the first quarter worth $9,346,000. Institutional investors own 80.95% of the company’s stock.

About CoreCivic

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, government real estate solutions, and a growing network of residential reentry centers to help address America's recidivism crisis.

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