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

Corecivic Inc (NYSE:CXW) announced a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 10.35%. The ex-dividend date of this dividend 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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%.

Shares of NYSE CXW traded down $0.61 during mid-day trading on Thursday, hitting $17.00. 970,855 shares of the company’s stock traded hands, compared to its average volume of 684,244. The company has a market capitalization of $2.08 billion, a P/E ratio of 7.36 and a beta of 1.09. The business has a 50-day moving average of $21.25. Corecivic has a 1 year low of $17.00 and a 1 year high of $26.09. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.03 and a quick ratio of 1.03.

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

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

Corecivic Company Profile

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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