Movers and SHAKERS
Monday, May 11, 2020
Dealing With COVID-19 Challenges
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 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 estate used by U.S. government agencies. The Company has been a flexible and dependable partner for government for more than 35 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
1Q20 Results. First quarter was performing in-line with management expectations until the COVID crisis hit, forcing the Company to devote significant resources to combat the disease. In addition, an already expected ICE population decline was exacerbated.
What about the Dividend? We believe the dividend remains covered even under our revised estimates, although we will note that management did lower the dividend in 2016 as a result of changes to the South Texas contract. Another alternative to cash dividends would be paying up to 80% of the dividend in stock, although we are not...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.