Corecivic Inc Plans Quarterly Dividend of $0.44 (NYSE:CXW)

Corecivic Inc (NYSE:CXW) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Investors of record on Monday, July 1st will be paid a dividend of 0.44 per share by the real estate investment trust on Tuesday, July 16th. This represents a $1.76 annualized dividend and a yield of 10.35%. The ex-dividend date is Friday, June 28th.

Corecivic has decreased its dividend payment by an average of 7.1% annually over the last three years. Corecivic has a dividend payout ratio of 75.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Corecivic to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 69.0%.

Corecivic stock traded down $0.61 during trading hours on Thursday, reaching $17.00. 970,855 shares of the company’s stock were exchanged, compared to its average volume of 684,244. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day moving average price is $21.35. Corecivic has a twelve month low of $17.00 and a twelve month high of $26.09. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 7.36 and a beta of 1.09.

Corecivic (NYSE:CXW) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.18). The business had revenue of $484.06 million for the quarter, compared to analyst estimates of $466.75 million. Corecivic had a return on equity of 12.72% and a net margin of 9.09%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. On average, research analysts expect that Corecivic will post 2.5 EPS for the current fiscal year.

Several analysts have recently commented on CXW shares. TheStreet downgraded Worthington Industries from a “b-” rating to a “c+” rating in a research note on Monday, June 10th. Zacks Investment Research downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.

About Corecivic

CoreCivic 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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Dividend History for Corecivic (NYSE:CXW)

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