CoreCivic, Inc. to Post Q3 2024 Earnings of $0.32 Per Share, Wedbush Forecasts (NYSE:CXW)

CoreCivic, Inc. (NYSE:CXWFree Report) – Equities researchers at Wedbush reduced their Q3 2024 earnings per share (EPS) estimates for shares of CoreCivic in a note issued to investors on Tuesday, June 11th. Wedbush analyst J. Mccanless now expects that the real estate investment trust will earn $0.32 per share for the quarter, down from their prior estimate of $0.40. Wedbush currently has a “Neutral” rating and a $14.00 target price on the stock. The consensus estimate for CoreCivic’s current full-year earnings is $1.64 per share. Wedbush also issued estimates for CoreCivic’s Q4 2024 earnings at $0.32 EPS.

Other equities analysts have also issued reports about the company. Northland Securities increased their price target on CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Noble Financial lowered CoreCivic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, StockNews.com lowered CoreCivic from a “buy” rating to a “hold” rating in a research note on Monday, April 29th.

Read Our Latest Stock Analysis on CXW

CoreCivic Stock Performance

Shares of CXW stock opened at $11.74 on Wednesday. CoreCivic has a 12-month low of $9.02 and a 12-month high of $16.54. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 20.96 and a beta of 0.87. The business has a 50 day simple moving average of $15.12 and a 200 day simple moving average of $14.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.17.

CoreCivic (NYSE:CXWGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). CoreCivic had a return on equity of 5.74% and a net margin of 3.34%. The business had revenue of $500.69 million during the quarter, compared to the consensus estimate of $477.93 million. During the same period last year, the company earned $0.34 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year.

Insider Buying and Selling

In related news, EVP Anthony L. Grande sold 15,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $15.51, for a total transaction of $232,650.00. Following the completion of the sale, the executive vice president now directly owns 168,380 shares in the company, valued at $2,611,573.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO David Garfinkle sold 19,900 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $15.18, for a total value of $302,082.00. Following the sale, the chief financial officer now directly owns 361,628 shares of the company’s stock, valued at $5,489,513.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $15.51, for a total value of $232,650.00. Following the completion of the sale, the executive vice president now directly owns 168,380 shares in the company, valued at $2,611,573.80. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CoreCivic

A number of institutional investors have recently added to or reduced their stakes in CXW. Goldman Sachs Group Inc. grew its position in CoreCivic by 1,050.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,138,544 shares of the real estate investment trust’s stock worth $45,603,000 after buying an additional 2,865,763 shares in the last quarter. Cooper Creek Partners Management LLC lifted its stake in CoreCivic by 24.2% during the third quarter. Cooper Creek Partners Management LLC now owns 3,297,002 shares of the real estate investment trust’s stock worth $37,091,000 after purchasing an additional 641,576 shares during the period. Teacher Retirement System of Texas lifted its stake in CoreCivic by 1,284.1% during the fourth quarter. Teacher Retirement System of Texas now owns 545,967 shares of the real estate investment trust’s stock worth $7,933,000 after purchasing an additional 506,522 shares during the period. Courage Capital Management LLC bought a new position in CoreCivic during the first quarter worth about $5,323,000. Finally, AWH Capital L.P. lifted its stake in CoreCivic by 88.7% during the third quarter. AWH Capital L.P. now owns 425,500 shares of the real estate investment trust’s stock worth $4,787,000 after purchasing an additional 200,000 shares during the period. 85.13% of the stock is owned by institutional investors and hedge funds.

About CoreCivic

(Get Free Report)

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.

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Earnings History and Estimates for CoreCivic (NYSE:CXW)

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