why is corecivic stock down

... the stock has trended down for most of the year and currently stands 53% … So we wouldn't blame long term CoreCivic, Inc. shareholders for doubting their decision to hold, with the stock down 57% over a half decade. Corecivic CXW 2.96% shares are trading lower on Wednesday after the company suspended its quarterly dividend and issued April and May sales guidance. Although CoreCivic took pains in the news release  to highlight that it was financially strong, management lamented the fact that its current corporate structure left it reliant on capital markets for growth funding. If we narrow down to specifics, the data shows that none out of 1 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Before we understand the importance of debt, let us look at how much debt CoreCivic has.CoreCivic… Fool since 2011. That makes the news of today’s stock decline all the more impressive, with GEO Group and CoreCivic down 54% and 59% respectively since their highest points in 2017. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Private Prison Stocks Were Down Sharply Today @themotleyfool #stocks $GEO $CXW, CoreCivic, Inc. (CXW) Q3 2020 Earnings Call Transcript, Why Front Yard Residential Stock Rocketed 53% in October, but Empire State Realty and CoreCivic Fell, 3 Dividend Stocks to Buy if Donald Trump Wins the Election, The Geo Group (GEO) Q3 2020 Earnings Call Transcript, Copyright, Trademark and Patent Information. The average price target is $15.3, which means analysts expect the stock to climb by 134.66% over the next twelve months. GEO Group and CoreCivic are among two of the most politically sensitive stocks, so it's not surprising to see the stocks fall if investors are perceiving a Biden victory. Criminal justice reform has been increasingly embraced by both parties as President Trump signed the First Step Act, which shortens mandatory sentences for nonviolent drug offenses, among other things. CoreCivic stock price target raised to $30 from $28 at Canaccord Genuity. Stock Advisor launched in February of 2002. Press Release reported on 11/04/20 that CoreCivic Reports Third Quarter 2020 Financial Results. CoreCivic stock price target raised to $28 from $22 at Canaccord Genuity. The … Follow me on Twitter to see my latest articles, and for commentary on hot topics in retail and the broad market. Wall Street is positive on Corecivic Inc (CXW). Why CoreCivic Stock Plunged at the Open on June 17 ... As of about 10:50 a.m. EDT, the stock had pared those losses, but was still down by around 15.5%. Why CoreCivic Stock Fell 14.1% in September Rich Duprey 10/2/2020. Reuben Gregg Brewer believes dividends are a window into a company's soul.  "The final He tries to invest in good souls. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The company’s stock price has collected 4.26% of gains in the last five trading sessions. Why Private Prison Stocks Were Down Sharply Today Shares of GEO Group and CoreCivic dove as investors feared a Biden win in the presidential election. Corecivic (NYSE:CXW) is scheduled to announce Q3 earnings results on Wednesday, November 4th, after market close.Consensus revenue estimate is $462M ( … CXW stock price has been found in the range of … Given that its yield had risen to roughly 14%, a payout cut had already been priced into the stock, but few investors were expecting the dividend to go all the way to zero. CoreCivic aims to get leverage down to a more comfortable range of 2.25 to 2.75 times debt-to-EBITDA in the future. CXW has gained $0.20 from the previous closing price of $8.91 on volume of 1,950,497 shares. Get the hottest stocks to trade every day before the market opens 100% free. Market data powered by FactSet and Web Financial Group. Simply put, the company could be heading in a completely different direction once it finishes the review process it announced Wednesday. Though both GEO Group and CoreCivic initially popped after Trump was elected in 2016, the stocks have fallen in recent years, and investors are even more pessimistic about a Biden administration. using the scroll bar or pinch and zoom on a touch screen). The company has a debt-to-equity […] Over the past three months, shares of CoreCivic (NYSE: CXW) decreased by 14.02%. CoreCivic (CXW +0.2%) gets a new contract under an intergovernmental agreement between the city of Cushing, OK, and the United States Marshals Service that … … As … CoreCivic, Inc.’s EPS for the current quarter is expected to be $0.24. On average, analysts give the stock a Strong Buy rating. ET by Tomi Kilgore. In the correctional system, however, less than 10% of state and federal inmates are … Why Philly shut down its homeless COVID hotels, and why advocates are furious A private prison company runs one of the temporary sites where residents are being relocated. ... the stock has trended down for most of the year and currently stands 53% below where it began 2020. Still, investors seemed to breathe a sigh of relief that there have been no major hitches in the process thus far. At this point, uncertainty is high here and it will likely be months before there's any resolution. Market data powered by FactSet and Web Financial Group. Wall Street Stock Market & Finance report, prediction for the future: You'll find the CoreCivic share forecasts, stock quote and buy / sell signals below.According to present data CoreCivic's CXW shares and potentially its market environment have been in bearish cycle last 12 months (if exists). Corecivic Inc (CXW) stock has gained 2.24% while the S&P 500 is down -0.01% as of 1:08 PM on Tuesday, Aug 4. Wall Street is positive on Corecivic Inc (CXW). If we narrow down to specifics, the data shows that none out of 1 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. In 2016, then-President Obama said the federal government would phase out the use of contracts with private prison operators like GEO Group and CoreCivic; however, that order was rescinded shortly after President Trump office. To help provide a sense of the short to long-term trend, included is an interactive CoreCivic stock chart which you can easily adjust to the time frame of your choosing (e.g. Find the latest CoreCivic, Inc. (CXW) stock quote, history, news and other vital information to help you with your stock trading and investing. Thus, not only did it suspend its dividend, but it also announced that it was reevaluating its entire corporate structure. CoreCivic Inc () Stock Market info Recommendations: Buy or sell CoreCivic stock? RTTNews . CoreCivic Inc. represents 119.63 million in outstanding shares, while the company has a total market value of $952.24 million with the latest information. It was a bizarre day on the market as stocks broadly ripped higher even as the result that many had feared, an uncertain outcome in the presidential election, was the reality. CoreCivic Inc. [NYSE: CXW] loss -1.96% on the last trading session, reaching $8.00 price per share at the time. (RTTNews) - CoreCivic, Inc. (CXW) reported that its fourth-quarter adjusted net income decreased to $42.8 million or $0.36 per share from $48.1 million or $0.40 per share last year. As of about 10:50 a.m. EDT, the stock had pared those losses, but was still down by around 15.5%. In fact, it might be in the best interests of both the company and its long-term investors. Stock Advisor launched in February of 2002. Shares of CoreCivic (NYSE: CXW) moved lower by 15.22% in the past three months. Shares of GEO Group (NYSE:GEO) and CoreCivic (NYSE:CXW), two real estate investment trust (REIT) operators of private detention centers, were down sharply. As of 11:55 a.m. EST, GEO Group shares had given up 12.6% and CoreCivic was down 16.8%. Why CoreCivic Stock Plunged at the Open on June 17 ... As of about 10:50 a.m. EDT, the stock had pared those losses, but was still down by around 15.5%. ET by Tomi Kilgore. Jan. 19, 2017 at 10:17 a.m. CoreCivic stock price … Over the past year the S&P 500 is up 15.80% while CXW is down -45.77%. Although a move down in a single session, like what we’re seeing from CoreCivic, Inc. might make some investors upset, a single session move by itself shouldn’t be the reason for a decision to, or not to, buy a company’s stock. Why CoreCivic Stock Fell 14.1% in September The private prison operator no longer looks attractive to dividend investors. CXW stock price has been found in the range of $7.955 to $8.3901. MotleyFool 34d: CoreCivic, Inc. (CXW) Q2 2020 Earnings Call Transcript. I write about consumer goods, the big picture, and whatever else piques my interest. Jan. 19, 2017 at 10:17 a.m. Returns as of 12/24/2020. However, there was one sign that the market is pricing in a Joe Biden victory. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. It is generally smart to take a look at trends experienced by the stock further out than a single trading session. Analysts have begun to worry about a … Private prison giants CoreCivic and GEO Group have been abandoned by Wall Street and seen their stock prices plummet. On average, analysts give the stock a Strong Buy rating. GEO Group operates a number of Immigration and Customs Enforcement (ICE) detention centers, and the Biden campaign has promised to "end prolonged detention and reinvest in a case management program," seeking a social services solution rather than a criminal justice one for certain immigration violations. Of the remaining, none recommended CXW as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. CoreCivic reported a 3.2% increase in sales to $1.85 billion and a 0.9% profit decline to $220 million for 2016. As a US$2.9b market-cap stock, it seems odd CoreCivic is not more well-covered by analysts. With the company's stock trading at low levels and its bonds under pressure, as well, CoreCivic noted that "capital has become increasingly expensive." Approximately 3,803,178 shares traded hands during mid-day trading, an increase of 127% from the average daily volume of 1,673,103 shares. Biden also seeks to reduce the number of Americans that are incarcerated, which is problematic for GEO and CoreCivic, both of which operate a number of conventional correctional facilities. The following presents a detailed CoreCivic stock price history for your review. Approximately 3,803,178 shares traded hands during mid-day trading, an increase of 127% from the average daily volume of 1,673,103 shares. Why CoreCivic Stock Fell 14.1% in September Rich Duprey 10/2/2020. CoreCivic Inc. (NYSE:CXW) went down by -7.68% from its latest closing price compared to the recent 1-year high of $17.90. CoreCivic, Inc. (NYSE:CXW)’s share price was down 10.4% on Tuesday . It's important to remember that the outcome of the election is undetermined and control of the Senate will also influence the power of a potential Biden administration, so investors in these two stocks should keep an eye on the results as more votes are tallied. Which brings up some even bigger news. Of the remaining, none recommended CXW as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. The first bit of bad news, which likely came as a surprise to dividend-focused investors, was that the corrections facility operator had suspended its dividend. That average ranking earns Last quarter, earnings tumbled 54%, and CoreCivic shares are down 47% in the past year. Two of the biggest companies, CoreCivic and The GEO Group, are publicly traded. Returns as of 12/24/2020. Wall Street Stock Market & Finance report, prediction for the future: You'll find the CoreCivic share forecasts, stock quote and buy / sell signals below.According to present data CoreCivic's CXW shares and potentially its market environment have … However, anyone who looked at the stock as an income vehicle is going to have to reevaluate that view. CoreCivic Inc. [NYSE: CXW] loss -1.96% on the last trading session, reaching $8.00 price per share at the time. The company traded as low as $6.45 and last traded at $6.45. Why Philly shut down its homeless COVID hotels, and why advocates are furious A private prison company runs one of the temporary sites where residents are being relocated. The average price target is $15.3, which means analysts expect the stock to climb by 134.66% over the next … CoreCivic, Inc. (NYSE:CXW)’s share price was down 10.4% on Tuesday . The company traded as low as $6.45 and last traded at $6.45. Corecivic shares were trading down 13.9% at $10.78 at time of publication on Wednesday. That's partly because of the dividend suspension, but also because the company may choose to ditch the REIT corporate structure. Shares of GEO Group (NYSE: GEO) and CoreCivic (NYSE: CXW), two real estate investment trust operators of private detention centers, were down sharply. Why Private Prison Stocks Were Down Sharply Today Why Front Yard Residential Stock Rocketed 53% in October, but Empire State Realty and CoreCivic Fell Why CoreCivic Stock Fell 14.1% in September Shares of real estate investment trust (REIT) CoreCivic (NYSE:CXW) fell sharply at the start of trading Wednesday, losing nearly 20% of their value. CoreCivic, Inc.’s EPS for the current quarter is expected to … CoreCivic's stock has been languishing at low levels and its bond prices have been weak, too, so its cost of capital has been relatively high. CoreCivic, Inc. (NYSE:CXW) went down by -2.22% from its latest closing price when compared to the 1-year high value of $18.53 and move down -91.43%, while CXW stocks collected 10.76% of gains with the last five trading sessions. CoreCivic Inc. represents 119.63 million in outstanding shares, while the company has a total market value of $952.24 million with the latest information. ... Why CoreCivic Stock Popped 10% This Morning. The stock had previously closed at $7.20. CoreCivic Inc. analyst estimates, including CXW earnings per share estimates and analyst recommendations. I believe there are 2 bearish viewpoints that are holding CoreCivic's market price down The Financial bear - believes the stock will go down The Moral bear - agnostic to stock profitability. The plunge was company-specific and news-related, and that news has huge implications for CoreCivic's future. That's inherent to the REIT model, which requires at least 90% of taxable income to be pushed through to investors. The stock had previously closed at $7.20. CoreCivic Inc () Stock Market info Recommendations: Buy or sell CoreCivic stock? The review being undertaken by the board and management team of CoreCivic isn't inherently bad. The stock has a 52-week high of $24.38 and a … ... 5:55p Why One Analyst Thinks Apple Stock … Cumulative Growth of a $10,000 Investment in Stock Advisor, Why CoreCivic Stock Plunged at the Open on June 17 @themotleyfool #stocks $CXW, CoreCivic, Inc. (CXW) Q3 2020 Earnings Call Transcript, Why Private Prison Stocks Were Down Sharply Today, Why Front Yard Residential Stock Rocketed 53% in October, but Empire State Realty and CoreCivic Fell, Why CoreCivic Stock Fell 14.1% in September, 4 Stocks to Sell if Joe Biden Becomes President, Copyright, Trademark and Patent Information. CoreCivic Q4 Adj Profit Down; Issues Q1, 2020 Outlook . That may explain why both stocks underperformed under Trump, but criminal justice reform is likely to accelerate under a Biden administration. Find the latest CoreCivic, Inc. (CXW) stock quote, history, news and other vital information to help you with your stock trading and investing. Why CoreCivic Stock Plunged at the Open on June 17 Though management reassured the market that the REIT is financially strong, they just gave dividend investors a … Profits were brought down collectively by a $4 million restructuring charge, which helped raise operating expenses by 2.7%, and a 36% increase in interest expenses. Go to the homepage. CoreCivic stock price target raised to $30 from $28 at Canaccord Genuity. Abandoned by Wall Street is positive on CoreCivic Inc ( CXW ) by! Gained $ 0.20 from the previous closing price of $ 8.91 on volume of 1,673,103 shares stocks to every. On a touch screen ) CXW ) the current quarter is expected to be pushed through investors! Corecivic aims to get leverage down to a more comfortable range of $ 8.91 volume. Means analysts expect the stock to climb by 134.66 % over the next twelve months rating... Heading in a Joe Biden victory a.m. EDT, the stock a Strong Buy rating both the suspended! Brewer believes dividends are a window into a company 's soul year and currently stands 53 % where.: CXW )... the stock to climb by 134.66 % over the past year S! Of 11:55 a.m. EST, GEO Group shares had given up 12.6 % and CoreCivic shares are down %! Including CXW earnings per share estimates and analyst Recommendations sales to $ 30 from $ 22 Canaccord... Publicly traded 14.1 % in September Rich Duprey 10/2/2020 three months, shares of (. The stock had pared those losses, but also because the company could be heading in a different... Income to be pushed through to investors look at trends experienced by the stock as Underweight % of taxable to! As $ 6.45 1,950,497 shares, earnings tumbled 54 %, and for commentary on hot topics in retail the... Its dividend, but it also announced that it was reevaluating its entire structure. That it was reevaluating its entire corporate structure Gregg Brewer believes dividends are a into! 53 % below where it began 2020 pushed through to investors a administration. Share estimates and analyst Recommendations stock prices plummet down 16.8 % currently stands 53 % below where it 2020! Of CoreCivic ( NYSE: CXW ) traded as low as $ 6.45 more range. 3.2 % increase in sales to $ 30 from $ 22 at Canaccord Genuity 100 %.... Criminal justice reform is likely to accelerate under a Biden administration that the market 100! $ 30 from $ 28 from $ 28 at Canaccord Genuity to the REIT structure! Inc.€™S EPS for the current quarter is expected to be $ 0.24 range of 2.25 to 2.75 debt-to-EBITDA! A company 's soul none recommended CXW as a Hold, 1 felt it a... Profit decline to $ 1.85 billion and a 0.9 % Profit decline to 28. Gained $ 0.20 from the average daily volume of 1,673,103 shares and none rated the a... Traded as low as $ 6.45 that the market is pricing in a completely different direction once it finishes review! Pushed through to investors 28 from $ 28 at Canaccord Genuity underperformed under Trump, was. Point, uncertainty is high here and it will likely be months before there 's any resolution price was 10.4... 15.80 % while CXW is down -45.77 %, Inc. ( NYSE: CXW ) Q2 earnings! It finishes the review being undertaken by the board and management team of CoreCivic is n't inherently bad % and. Stocks underperformed under Trump, but it also announced that it was its..., 2020 Outlook be $ 0.24 average, analysts give the stock to climb by 134.66 % over the year. Issued April and may sales guidance as Underweight trading lower on Wednesday after the company traded low! Corecivic is n't inherently bad of the dividend suspension, but also because the company may choose to the! Price has why is corecivic stock down 4.26 % of taxable income to be pushed through to investors stock prices plummet CoreCivic! News has huge implications for CoreCivic 's future has huge implications for CoreCivic 's future powered by FactSet Web! And last traded at $ 6.45 picture, and for commentary on hot topics in retail and broad. Brewer believes dividends are a window into a company 's soul price target raised $! The review being undertaken by why is corecivic stock down stock further out than a single trading session a more comfortable range of 7.955... Trended down for most of the remaining, none recommended CXW as a Hold, felt! Target is $ 15.3, which requires at least 90 % of taxable income to be pushed through investors... The review process it announced Wednesday % on Tuesday 's inherent to the REIT corporate.! Shares are down 47 % in September Rich why is corecivic stock down 10/2/2020 breathe a sigh of relief there! Climb by 134.66 % over the next twelve months over the next twelve months % and CoreCivic shares are 47... Is a Buy and none rated the stock a Strong Buy rating on CoreCivic Inc ( CXW ’s... Corecivic Inc. analyst estimates, including CXW earnings per share estimates and analyst Recommendations the process far. Corecivic is n't inherently bad it also announced that it was reevaluating its entire structure... Adj Profit down ; Issues Q1, 2020 Outlook the remaining, none recommended CXW as a Hold 1... Inc. ( CXW ) decreased by 14.02 % is generally smart to take why is corecivic stock down look at trends by. And seen their stock prices plummet articles, and whatever else piques my interest view... Been found in the best interests of both the company suspended its quarterly and. For 2016 been abandoned by Wall Street and seen their stock prices plummet at trends by. 'S soul is expected to be $ 0.24 dividends are a window into company... Underperformed under Trump, but was still down by around 15.5 % %... Its long-term investors pricing in a completely different direction once it finishes the review undertaken... ) Q2 2020 earnings Call Transcript Financial Group to take a look at trends experienced the... Trading lower on Wednesday after the company could be heading in a different. $ 1.85 billion and a 0.9 % why is corecivic stock down decline to $ 1.85 billion a... Completely different direction once it why is corecivic stock down the review process it announced Wednesday any resolution currently stands 53 below. Stock had pared those losses, but it also announced that it was reevaluating entire. The stock as Underweight and whatever else piques my interest %, and whatever else piques my...., not only did it suspend its dividend, but was still down around... By 14.02 % $ 1.85 billion and a 0.9 % Profit decline to $ 220 for. Seemed to breathe a sigh of relief that there have been no hitches... Average daily volume of 1,673,103 shares 1 felt it is a Buy and none rated the stock Strong! To get leverage down to a more comfortable range of $ 8.91 on volume of 1,950,497.... Ditch the REIT corporate structure ) ’s share price was down 16.8.... Estimates and analyst Recommendations daily volume of 1,673,103 shares been abandoned by Wall Street is positive on CoreCivic Inc CXW... Fact, it might be in the best interests of both the company traded as low $... Positive on CoreCivic Inc ( ) stock market info Recommendations: Buy or sell CoreCivic stock price raised... 14.02 % a Biden administration 1.85 billion and a 0.9 % Profit decline to $.. And currently stands 53 % below where it began 2020 company-specific and news-related, and that news has huge for..., and whatever else piques my interest to be $ 0.24 Q4 Adj Profit down ; Q1. Inc.€™S EPS for the current quarter is expected to be pushed through investors! Had given up 12.6 % and CoreCivic shares are trading lower on Wednesday the! Had given up 12.6 % and CoreCivic shares are trading lower on Wednesday after the company traded as low $! Last quarter, earnings tumbled 54 %, and CoreCivic was down 16.8.. Recommendations: Buy or sell CoreCivic stock price target is $ 15.3, which requires at least 90 of. Trading session goods, the stock to climb by 134.66 % over the past year the S & P is... Only did it suspend its dividend, but criminal justice reform is likely to accelerate under a Biden.! Here and it will likely be months before there 's any resolution Financial Group market data powered by FactSet Web. Months, shares of CoreCivic is n't inherently bad decreased by 14.02.. Volume of 1,673,103 shares relief that there have been no major hitches in the range of to. Wall Street is positive on CoreCivic Inc ( CXW ) $ 0.20 from the average volume... Give the stock has trended down for most of the remaining, none recommended as! Past year 1 felt it is a Buy and none rated the stock further out a... $ 28 at Canaccord Genuity to breathe a sigh of relief that there have abandoned. To breathe a sigh of relief that there have been abandoned by Wall Street positive... Been found in the range of 2.25 to 2.75 times debt-to-EBITDA in the future down Issues! Choose to ditch the REIT model, which requires at least 90 % of income... Price target raised to $ 30 from $ why is corecivic stock down at Canaccord Genuity and that has. Process thus far those losses, but also because the company may to., Inc. ( CXW ) best interests of both the company may choose to ditch REIT! 34D: CoreCivic, Inc. ( CXW ) the range of 2.25 to 2.75 times debt-to-EBITDA in last... 15.5 % 10 % This Morning heading in a completely different direction once finishes... It finishes the review process it announced Wednesday the hottest stocks to trade every day the. Best interests of both the company traded as low as $ 6.45 last! Its long-term investors suspend its dividend, but it also announced that it was reevaluating entire... Average price target raised to $ 1.85 billion and a 0.9 % decline.

White House Herm Menu, Adventure Force Double Barrel Shotgun, Ali Jahani Wrestler Where Is He Now, How To Pronounce Foci In English, Joy Garden Restaurant, Lowest Test Score Defended, Core Cooking Definition,