why is corecivic stock down

Corecivic CXW 2.96% shares are trading lower on Wednesday after the company suspended its quarterly dividend and issued April and May sales guidance. On average, analysts give the stock a Strong Buy rating. Shares of GEO Group (NYSE:GEO) and CoreCivic (NYSE:CXW), two real estate investment trust (REIT) operators of private detention centers, were down sharply. Wall Street is positive on Corecivic Inc (CXW). 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. On average, analysts give the stock a Strong Buy rating. However, there was one sign that the market is pricing in a Joe Biden victory. The stock had previously closed at $7.20. 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. 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. 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. ... the stock has trended down for most of the year and currently stands 53% below where it began 2020. 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. Thus, not only did it suspend its dividend, but it also announced that it was reevaluating its entire corporate structure. 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. CoreCivic reported a 3.2% increase in sales to $1.85 billion and a 0.9% profit decline to $220 million for 2016. Follow me on Twitter to see my latest articles, and for commentary on hot topics in retail and the broad market. Market data powered by FactSet and Web Financial Group. At this point, uncertainty is high here and it will likely be months before there's any resolution. The stock has a 52-week high of $24.38 and a … That's partly because of the dividend suspension, but also because the company may choose to ditch the REIT corporate structure. 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. (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. Corecivic (NYSE:CXW) is scheduled to announce Q3 earnings results on Wednesday, November 4th, after market close.Consensus revenue estimate is $462M ( â¦ Over the past three months, shares of CoreCivic (NYSE: CXW) decreased by 14.02%. Which brings up some even bigger news. Corecivic shares were trading down 13.9% at $10.78 at time of publication on Wednesday. As of about 10:50 a.m. EDT, the stock had pared those losses, but was still down by around 15.5%. Â "The final CoreCivic stock price target raised to $30 from $28 at Canaccord Genuity. 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. 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. 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. That makes the news of todayâs stock decline all the more impressive, with GEO Group and CoreCivic down 54% and 59% respectively since their highest points in 2017. RTTNews . The stock had previously closed at $7.20. Over the past year the S&P 500 is up 15.80% while CXW is down -45.77%. 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%. CoreCivic stock price â¦ Get the hottest stocks to trade every day before the market opens 100% free. Of the remaining, none recommended CXW as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. 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. 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. 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. With the company's stock trading at low levels and its bonds under pressure, as well, CoreCivic noted that "capital has become increasingly expensive." 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. 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'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 -7.68% from its latest closing price compared to the recent 1-year high of $17.90. Wall Street is positive on Corecivic Inc (CXW). CoreCivic Inc. [NYSE: CXW] loss -1.96% on the last trading session, reaching $8.00 price per share at the time. CoreCivic Q4 Adj Profit Down; Issues Q1, 2020 Outlook . CoreCivic, Inc. (NYSE:CXW)’s share price was down 10.4% on Tuesday . The following presents a detailed CoreCivic stock price history for your review. Market data powered by FactSet and Web Financial Group. 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. 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 â¦ As â¦ CoreCivic stock price target raised to $30 from $28 at Canaccord Genuity. It is generally smart to take a look at trends experienced by the stock further out than a single trading session. CXW stock price has been found in the range of $7.955 to $8.3901. 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%. CoreCivic Inc. analyst estimates, including CXW earnings per share estimates and analyst recommendations. CoreCivic, Inc.âs EPS for the current quarter is expected to be $0.24. CoreCivic Inc () Stock Market info Recommendations: Buy or sell CoreCivic stock? ET by Tomi Kilgore. In fact, it might be in the best interests of both the company and its long-term investors. The company has a debt-to-equity [â¦] Fool since 2011. 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 … 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. The average price target is $15.3, which means analysts expect the stock to climb by 134.66% over the next … Stock Advisor launched in February of 2002. 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. Analysts have begun to worry about a â¦ ... the stock has trended down for most of the year and currently stands 53% … Shares of CoreCivic (NYSE: CXW) moved lower by 15.22% in the past three months. Two of the biggest companies, CoreCivic and The GEO Group, are publicly traded. ... Why CoreCivic Stock Popped 10% This Morning. 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. Returns as of 12/24/2020. CXW has gained $0.20 from the previous closing price of $8.91 on volume of 1,950,497 shares. 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. The company traded as low as $6.45 and last traded at $6.45. 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. MotleyFool 34d: CoreCivic, Inc. (CXW) Q2 2020 Earnings Call Transcript. As of 11:55 a.m. EST, GEO Group shares had given up 12.6% and CoreCivic was down 16.8%. 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. 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. 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. That's inherent to the REIT model, which requires at least 90% of taxable income to be pushed through to investors. The average price target is $15.3, which means analysts expect the stock to climb by 134.66% over the next twelve months. 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. The plunge was company-specific and news-related, and that news has huge implications for CoreCivic's future. 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. CoreCivic aims to get leverage down to a more comfortable range of 2.25 to 2.75 times debt-to-EBITDA in the future. However, anyone who looked at the stock as an income vehicle is going to have to reevaluate that view. Find the latest CoreCivic, Inc. (CXW) stock quote, history, news and other vital information to help you with your stock trading and investing. Shares of GEO Group (NYSE: GEO) and CoreCivic (NYSE: CXW), two real estate investment trust operators of private detention centers, were down sharply. CoreCivic Inc () Stock Market info Recommendations: Buy or sell CoreCivic stock? As a US$2.9b market-cap stock, it seems odd CoreCivic is not more well-covered by analysts. 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. Jan. 19, 2017 at 10:17 a.m. Returns as of 12/24/2020. The company traded as low as $6.45 and last traded at $6.45. CoreCivic, Inc. (NYSE:CXW)âs share price was down 10.4% on Tuesday . Before we understand the importance of debt, let us look at how much debt CoreCivic has.CoreCivicâ¦ â¦ Why CoreCivic Stock Fell 14.1% in September Rich Duprey 10/2/2020. The review being undertaken by the board and management team of CoreCivic isn't inherently bad. CoreCivic Inc. [NYSE: CXW] loss -1.96% on the last trading session, reaching $8.00 price per share at the time. 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. ... 5:55p Why One Analyst Thinks Apple Stock â¦ Still, investors seemed to breathe a sigh of relief that there have been no major hitches in the process thus far. Why CoreCivic Stock Fell 14.1% in September Rich Duprey 10/2/2020. Stock Advisor launched in February of 2002. Jan. 19, 2017 at 10:17 a.m. Press Release reported on 11/04/20 that CoreCivic Reports Third Quarter 2020 Financial Results. Private prison giants CoreCivic and GEO Group have been abandoned by Wall Street and seen their stock prices plummet. Of the remaining, none recommended CXW as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. Although a move down in a single session, like what weâre seeing from CoreCivic, Inc. might make some investors upset, a single session move by itself shouldnât be the reason for a decision to, or not to, buy a companyâs stock. I write about consumer goods, the big picture, and whatever else piques my interest. Simply put, the company could be heading in a completely different direction once it finishes the review process it announced Wednesday. He tries to invest in good souls. ET by Tomi Kilgore. CoreCivic stock price target raised to $28 from $22 at Canaccord Genuity. Shares of real estate investment trust (REIT) CoreCivic (NYSE:CXW) fell sharply at the start of trading Wednesday, losing nearly 20% of their value. In the correctional system, however, less than 10% of state and federal inmates are â¦ Last quarter, earnings tumbled 54%, and CoreCivic shares are down 47% in the past year. 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 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 â¦ The companyâs stock price has collected 4.26% of gains in the last five trading sessions. The … 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. Reuben Gregg Brewer believes dividends are a window into a company's soul. Find the latest CoreCivic, Inc. (CXW) stock quote, history, news and other vital information to help you with your stock trading and investing. That average ranking earns CXW stock price has been found in the range of … 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. using the scroll bar or pinch and zoom on a touch screen). That may explain why both stocks underperformed under Trump, but criminal justice reform is likely to accelerate under a Biden administration. Why CoreCivic Stock Fell 14.1% in September The private prison operator no longer looks attractive to dividend investors. CoreCivic, Inc.’s EPS for the current quarter is expected to … Go to the homepage. 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