CoreCivic (NYSE:CXW) Updates FY24 Earnings Guidance

CoreCivic (NYSE:CXW) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.56-$1.66 for the period, compared to the consensus earnings per share estimate of $1.55.

Wall Street Analyst Weigh In

Several analysts have issued reports on CXW shares. Northland Securities upped their price target on shares of CoreCivic from $17.00 to $19.00 and gave the company an outperform rating in a report on Tuesday, March 26th. Wedbush upped their target price on CoreCivic from $18.00 to $19.00 and gave the company an outperform rating in a research note on Monday, April 8th. Finally, StockNews.com downgraded CoreCivic from a buy rating to a hold rating in a research report on Monday, April 29th.

CoreCivic Trading Up 0.3 %

Shares of CoreCivic stock traded up $0.05 during mid-day trading on Wednesday, hitting $15.36. 656,636 shares of the stock were exchanged, compared to its average volume of 865,561. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 25.95 and a beta of 0.81. CoreCivic has a twelve month low of $8.27 and a twelve month high of $16.24. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.73. The company has a 50-day simple moving average of $15.19 and a 200 day simple moving average of $14.45.

CoreCivic (NYSE:CXW) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). The firm had revenue of $491.25 million for the quarter, compared to analyst estimates of $489.62 million. CoreCivic had a return on equity of 4.70% and a net margin of 3.56%. Research analysts forecast that CoreCivic will post 1.31 EPS for the current year.

Insider Transactions at CoreCivic

In related news, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $14.62, for a total value of $738,675.50. Following the completion of the transaction, the chief executive officer now directly owns 820,262 shares in the company, valued at $11,992,230.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the completion of the transaction, the chief executive officer now owns 820,262 shares of the company’s stock, valued at $11,992,230.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony L. Grande sold 15,000 shares of CoreCivic stock in a transaction on Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the transaction, the executive vice president now owns 186,692 shares in the company, valued at approximately $2,707,034. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

CoreCivic Company Profile

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.