Corecivic (CXW) Updates FY18 Earnings Guidance

Corecivic (NYSE:CXW) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.23-2.31 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.24. Corecivic also updated its Q1 guidance to $0.51-0.53 EPS.

Shares of Corecivic (NYSE CXW) traded up $0.40 during midday trading on Wednesday, reaching $21.66. 1,975,021 shares of the company traded hands, compared to its average volume of 1,071,952. The company has a market capitalization of $2,540.00, a price-to-earnings ratio of 12.97, a PEG ratio of 1.50 and a beta of 0.85. Corecivic has a fifty-two week low of $19.59 and a fifty-two week high of $35.33. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.10 and a current ratio of 1.10.

The business 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. This represents a $1.68 annualized dividend and a yield of 7.76%. The ex-dividend date was Friday, December 29th. Corecivic’s dividend payout ratio is presently 100.60%.

Several research analysts recently issued reports on CXW shares. Zacks Investment Research lowered shares of Corecivic from a buy rating to a hold rating in a research note on Tuesday, October 17th. ValuEngine lowered shares of Corecivic from a buy rating to a hold rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $33.25.

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About Corecivic

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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