Corecivic (CXW) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Corecivic (NYSE:CXW) from a hold rating to a buy rating in a report issued on Tuesday morning. They currently have $25.00 price objective on the real estate investment trust’s stock.

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. “

Other equities analysts also recently issued research reports about the stock. SunTrust Banks reiterated a buy rating and set a $37.00 target price on shares of Corecivic in a research note on Monday, October 2nd. ValuEngine downgraded shares of Corecivic from a buy rating to a hold rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $33.25.

Corecivic (NYSE:CXW) traded up $0.36 during trading hours on Tuesday, hitting $22.34. 561,642 shares of the company’s stock traded hands, compared to its average volume of 1,042,685. The firm has a market capitalization of $2,630.00, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.97. Corecivic has a fifty-two week low of $21.41 and a fifty-two week high of $35.33.

Corecivic (NYSE:CXW) last posted its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The business had revenue of $442.80 million during the quarter, compared to the consensus estimate of $437.18 million. Corecivic had a net margin of 11.03% and a return on equity of 13.54%. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. research analysts expect that Corecivic will post 2.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Tuesday, January 2nd were paid a dividend of $0.42 per share. The ex-dividend date was Friday, December 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 7.52%. Corecivic’s payout ratio is currently 100.60%.

Hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC grew its stake in shares of Corecivic by 115.0% during the second quarter. Advisory Services Network LLC now owns 4,093 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 2,189 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Corecivic by 1.7% during the third quarter. Ameriprise Financial Inc. now owns 558,719 shares of the real estate investment trust’s stock worth $14,963,000 after purchasing an additional 9,550 shares in the last quarter. Legal & General Group Plc lifted its position in Corecivic by 3.5% in the third quarter. Legal & General Group Plc now owns 181,832 shares of the real estate investment trust’s stock valued at $4,865,000 after acquiring an additional 6,212 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in Corecivic by 133.9% in the third quarter. Canada Pension Plan Investment Board now owns 79,300 shares of the real estate investment trust’s stock valued at $2,123,000 after acquiring an additional 45,400 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Corecivic by 7.9% in the third quarter. Wells Fargo & Company MN now owns 424,547 shares of the real estate investment trust’s stock valued at $11,364,000 after acquiring an additional 31,200 shares during the last quarter. Hedge funds and other institutional investors own 83.17% 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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