I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Seeking Review specializing in quicker moving active shares with a short term view on investment opportunities and trends.
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Latest posts by Jonathon Freitas (see all)
- Hot Stock of the Day: Easterly Government Properties Inc (NYSE: DEA) - August 18, 2019
- Stock under Consideration: CoreCivic Inc (NYSE: CXW) - August 18, 2019
- Active Stock’s Momentum: Cushman & Wakefield plc (NYSE: CWK) - August 18, 2019
NASHVILLE, Tenn., August 18, 2019 – Shares of CoreCivic Inc (NYSE: CXW) showed the bullish trend with a higher momentum of 2.67% to $17.67. The company traded total volume of 437.427K shares as contrast to its average volume of 927.42K shares. The company has a market value of $2.14B and about 121.32M shares outstanding.
CoreCivic, Inc. (NYSE: CXW) reported that net income generated in the first quarter of 2019 totaled $49.30M, or $0.41 per diluted share, contrast with $37.80M, or $0.32 per diluted share, in the first quarter of 2018. Adjusted for special items, net income in the first quarter of 2019 was $49.80M, or $0.42 per diluted share (Adjusted Diluted EPS), contrast with adjusted net income in the first quarter of 2018 of $38.30M, or $0.32 per diluted share. Special items in the first quarter of 2019 and first quarter of 2018 included expenses associated with mergers and acquisitions (M&A) of $0.40M and $0.50M, respectively.
Funds from Operations (FFO) were $75.90M, or $0.64 per diluted share, in the first quarter of 2019, contrast to $62.20M, or $0.52 per diluted share, in the first quarter of 2018. Normalized FFO, which excludes the special items described above, was $76.40M, or $0.64 per diluted share, in the first quarter of 2019, contrast with $62.70M, or $0.53 per diluted share, in the first quarter of 2018.
EBITDA was $109.30M in the first quarter of 2019, contrast with $97.10M in the first quarter of 2018. Adjusted EBITDA was $109.70M in the first quarter of 2019, contrast with $92.10M in the first quarter of 2018. Adjusted EBITDA excludes the special items described above and Adjusted EBITDA for the first quarter of 2018 includes the portion of rental payments for the South Texas Family Residential Center (STFRC) that was classified as depreciation and interest expense for financial reporting purposes, to more properly reflect the cash flows associated with the lease. CoreCivic adopted Accounting Standards Codification 842, “Leases”, (ASC 842) on January 1, 2019. Upon adoption of ASC 842, all rental payments associated with this lease are classified as operating expenses.
The Company offered net profit margin of 9.40% while its gross profit margin was 28.80%. ROE was recorded as 12.90% while beta factor was 1.03. The stock, as of recent close, has shown the weekly downbeat performance of -0.11% which was maintained at -0.90% in this year.