Analysts expect that CoreCivic, Inc. (NYSE:CXW) will announce sales of $467.14 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for CoreCivic's earnings. The highest sales estimate is $473.30 million and the lowest is $455.00 million. CoreCivic posted sales of $468.27 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.2%. The business is expected to announce its next quarterly earnings report on Wednesday, November 3rd.
On average, analysts expect that CoreCivic will report full year sales of $1.86 billion for the current financial year, with estimates ranging from $1.83 billion to $1.87 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.88 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research analysts that follow CoreCivic.
CoreCivic (NYSE:CXW) last released its quarterly earnings results on Sunday, August 8th. The real estate investment trust reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. CoreCivic had a positive return on equity of 4.42% and a negative net margin of 5.91%. The firm had revenue of $464.57 million for the quarter, compared to analysts' expectations of $466.09 million. During the same quarter last year, the firm posted $0.18 EPS. The company's revenue was down 1.7% compared to the same quarter last year.
CXW has been the topic of a number of research reports. TheStreet raised CoreCivic from a "d" rating to a "c-" rating in a report on Friday, June 18th. Wedbush initiated coverage on CoreCivic in a report on Friday, June 18th. They set a "neutral" rating and a $10.85 price objective on the stock.
Hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its position in shares of CoreCivic by 17.6% during the second quarter. Parametric Portfolio Associates LLC now owns 335,665 shares of the real estate investment trust's stock valued at $3,514,000 after purchasing an additional 50,226 shares in the last quarter. Morgan Stanley boosted its position in shares of CoreCivic by 100.0% during the second quarter. Morgan Stanley now owns 983,136 shares of the real estate investment trust's stock valued at $10,293,000 after purchasing an additional 491,567 shares in the last quarter. Invesco Ltd. boosted its position in shares of CoreCivic by 4.6% during the second quarter. Invesco Ltd. now owns 929,295 shares of the real estate investment trust's stock valued at $9,730,000 after purchasing an additional 41,078 shares in the last quarter. Mason Capital Management LLC boosted its position in shares of CoreCivic by 30.2% during the second quarter. Mason Capital Management LLC now owns 4,915,561 shares of the real estate investment trust's stock valued at $51,466,000 after purchasing an additional 1,141,261 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of CoreCivic by 100,664.5% during the second quarter. Metropolitan Life Insurance Co NY now owns 31,237 shares of the real estate investment trust's stock valued at $327,000 after purchasing an additional 31,206 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.
NYSE:CXW opened at $8.74 on Wednesday. The stock has a market cap of $1.05 billion, a P/E ratio of -9.50 and a beta of 1.25. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.13. CoreCivic has a twelve month low of $5.76 and a twelve month high of $12.35. The business's 50-day moving average price is $9.97 and its two-hundred day moving average price is $9.26.
CoreCivic, Inc operates as a government solutions company, which engages in the development and management of prisons and other correctional facilities. It operates through the following segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties segments. The CoreCivic Safety segment consists of correctional and detention facilities.
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