Corecivic Inc (NYSE:CXW) announced a quarterly dividend on Thursday, August 16th, RTT News reports. Investors of record on Monday, October 1st will be given a dividend of 0.43 per share by the real estate investment trust on Monday, October 15th. This represents a $1.72 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend is Friday, September 28th.
Corecivic has decreased its dividend by an average of 5.8% annually over the last three years. Corecivic has a dividend payout ratio of 74.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Corecivic to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 72.0%.
CXW stock opened at $24.05 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $2.89 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.76 and a beta of 1.03. Corecivic has a 12 month low of $18.61 and a 12 month high of $27.50.
Corecivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, August 8th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.01). The firm had revenue of $449.93 million during the quarter, compared to analyst estimates of $435.61 million. Corecivic had a net margin of 8.99% and a return on equity of 11.44%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. equities research analysts forecast that Corecivic will post 2.32 earnings per share for the current fiscal year.
In other Corecivic news, CFO David Garfinkle sold 5,010 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $25.31, for a total value of $126,803.10. Following the transaction, the chief financial officer now directly owns 105,082 shares of the company’s stock, valued at approximately $2,659,625.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Damon T. Hininger sold 14,027 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $26.00, for a total transaction of $364,702.00. Following the completion of the transaction, the chief executive officer now directly owns 238,785 shares in the company, valued at $6,208,410. The disclosure for this sale can be found here. Insiders sold a total of 125,770 shares of company stock worth $3,208,426 over the last three months. 1.30% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on the stock. ValuEngine raised shares of Corecivic from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. Zacks Investment Research cut shares of Corecivic from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, TheStreet raised shares of Corecivic from a “c” rating to a “b-” rating in a research note on Monday, June 25th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $32.67.
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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