Momentum Stock Watch: CoreCivic, Inc. (CXW)

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. We are a publicly traded real estate investment trust (REIT) and the nation’s largest owner of partnership correctional, detention and residential reentry facilities. We also believe we are the largest private owner of real

Recent News:

Its Board of Directors declared a quarterly dividend of $0.44 per share to be paid on July 16, 2019, to shareholders of record as of the close of business on July 1, 2019.

On May 16, 2019, the Company announced that it has entered into a new contract under an Intergovernmental Agreement between Torrance County, New Mexico and Immigration and Customs Enforcement (ICE) to activate CoreCivic’s currently idle 910-bed Torrance County Detention Facility in Estancia, New Mexico.

The company reported net income generated in the first quarter of 2019 totaled $49.3 million, or $0.41 per diluted share, compared with $37.8 million, or $0.32 per diluted share, in the first quarter of 2018. Total revenue was $484.1 million, up 10% from the prior year quarter.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

CXW’s strengths can be seen in its better growth and strong profitability. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, the MACD is trying to cross back up and the RSI(14) stands at 66.42 with positive bias. We rate CoreCivic, Inc. (CXW) a STRONG BUY.

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