CoreCivic (CXW) To Go Ex-Dividend on March 29th

CoreCivic (NYSE:CXW) declared a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Shareholders of record on Monday, April 2nd will be paid a dividend of 0.43 per share by the real estate investment trust on Monday, April 16th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date of this dividend is Thursday, March 29th. This is a positive change from CoreCivic’s previous quarterly dividend of $0.42.

CoreCivic has decreased its dividend by an average of 5.8% annually over the last three years. CoreCivic has a dividend payout ratio of 71.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CoreCivic to earn $2.23 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 75.3%.

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CXW stock opened at $19.49 on Friday. CoreCivic has a 52-week low of $19.47 and a 52-week high of $35.10. The stock has a market capitalization of $2,418.46, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.13 and a quick ratio of 1.13.

CoreCivic (NYSE:CXW) last announced its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.15). CoreCivic had a return on equity of 12.61% and a net margin of 10.08%. The firm had revenue of $440.58 million for the quarter, compared to analyst estimates of $429.88 million. equities research analysts anticipate that CoreCivic will post 2.23 earnings per share for the current year.

In related news, Director Mark A. Emkes bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was acquired at an average price of $21.17 per share, for a total transaction of $105,850.00. Following the transaction, the director now directly owns 56,488 shares of the company’s stock, valued at $1,195,850.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Several brokerages have recently weighed in on CXW. Zacks Investment Research lowered CoreCivic from a “buy” rating to a “hold” rating in a report on Friday, January 26th. ValuEngine downgraded CoreCivic from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Deutsche Bank cut their target price on CoreCivic from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $32.75.

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CoreCivic Company Profile

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.

Dividend History for CoreCivic (NYSE:CXW)

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