Shares of GEO Group (NYSE:GEO) and CoreCivic (NYSE:CXW), two real estate investment trust (REIT) operators of private detention centers, were down sharply. 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%. Over the past year the S&P 500 is up 15.80% while CXW is down -45.77%. 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. Go to the homepage. 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. That's partly because of the dividend suspension, but also because the company may choose to ditch the REIT corporate structure. CoreCivic Inc. [NYSE: CXW] loss -1.96% on the last trading session, reaching $8.00 price per share at the time. Thus, not only did it suspend its dividend, but it also announced that it was reevaluating its entire corporate structure. CoreCivic, Inc. (NYSE:CXW)’s share price was down 10.4% on Tuesday . Corecivic shares were trading down 13.9% at $10.78 at time of publication on Wednesday. ET by Tomi Kilgore. CoreCivic Inc. [NYSE: CXW] loss -1.96% on the last trading session, reaching $8.00 price per share at the time. Fool since 2011.  "The final ... Why CoreCivic Stock Popped 10% This Morning. Market data powered by FactSet and Web Financial Group. 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 CXW 2.96% shares are trading lower on Wednesday after the company suspended its quarterly dividend and issued April and May sales guidance. The company traded as low as $6.45 and last traded at $6.45. … 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. Find the latest CoreCivic, Inc. (CXW) stock quote, history, news and other vital information to help you with your stock trading and investing. Last quarter, earnings tumbled 54%, and CoreCivic shares are down 47% in the past year. 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. Stock Advisor launched in February of 2002. Find the latest CoreCivic, Inc. (CXW) stock quote, history, news and other vital information to help you with your stock trading and investing. 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. 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. CXW stock price has been found in the range of $7.955 to $8.3901. 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. 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 … 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. That's inherent to the REIT model, which requires at least 90% of taxable income to be pushed through to investors. The stock has a 52-week high of $24.38 and a … Before we understand the importance of debt, let us look at how much debt CoreCivic has.CoreCivic… 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.’s EPS for the current quarter is expected to … Get the hottest stocks to trade every day before the market opens 100% free. The … In the correctional system, however, less than 10% of state and federal inmates are … Jan. 19, 2017 at 10:17 a.m. 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. Two of the biggest companies, CoreCivic and The GEO Group, are publicly traded. 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. Still, investors seemed to breathe a sigh of relief that there have been no major hitches in the process thus far. ... the stock has trended down for most of the year and currently stands 53% below where it began 2020. CoreCivic, Inc.’s EPS for the current quarter is expected to be $0.24. CoreCivic Q4 Adj Profit Down; Issues Q1, 2020 Outlook . Why CoreCivic Stock Fell 14.1% in September Rich Duprey 10/2/2020. Follow me on Twitter to see my latest articles, and for commentary on hot topics in retail and the broad market. 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. With the company's stock trading at low levels and its bonds under pressure, as well, CoreCivic noted that "capital has become increasingly expensive." Of the remaining, none recommended CXW as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. 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. 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. It is generally smart to take a look at trends experienced by the stock further out than a single trading session. Returns as of 12/24/2020. Why CoreCivic Stock Fell 14.1% in September Rich Duprey 10/2/2020. 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. 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. As of about 10:50 a.m. EDT, the stock had pared those losses, but was still down by around 15.5%. 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. 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 … Shares of GEO Group (NYSE: GEO) and CoreCivic (NYSE: CXW), two real estate investment trust operators of private detention centers, were down sharply. The plunge was company-specific and news-related, and that news has huge implications for CoreCivic's future. Analysts have begun to worry about a … The company has a debt-to-equity […] The review being undertaken by the board and management team of CoreCivic isn't inherently bad. In fact, it might be in the best interests of both the company and its long-term investors. 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 Inc. represents 119.63 million in outstanding shares, while the company has a total market value of $952.24 million with the latest information. Shares of real estate investment trust (REIT) CoreCivic (NYSE:CXW) fell sharply at the start of trading Wednesday, losing nearly 20% of their value. (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. However, anyone who looked at the stock as an income vehicle is going to have to reevaluate that view. As … That may explain why both stocks underperformed under Trump, but criminal justice reform is likely to accelerate under a Biden administration. The average price target is $15.3, which means analysts expect the stock to climb by 134.66% over the next twelve months. Of the remaining, none recommended CXW as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. The stock had previously closed at $7.20. RTTNews . CoreCivic reported a 3.2% increase in sales to $1.85 billion and a 0.9% profit decline to $220 million for 2016. I write about consumer goods, the big picture, and whatever else piques my interest. 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. Which brings up some even bigger news. On average, analysts give the stock a Strong Buy rating. 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. As of 11:55 a.m. EST, GEO Group shares had given up 12.6% and CoreCivic was down 16.8%. The company traded as low as $6.45 and last traded at $6.45. The company’s stock price has collected 4.26% of gains in the last five trading sessions. Press Release reported on 11/04/20 that CoreCivic Reports Third Quarter 2020 Financial Results. ET by Tomi Kilgore. CoreCivic stock price target raised to $30 from $28 at Canaccord Genuity. The stock had previously closed at $7.20. 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 aims to get leverage down to a more comfortable range of 2.25 to 2.75 times debt-to-EBITDA in the future. using the scroll bar or pinch and zoom on a touch screen). 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