CoreCivic (NYSE:CXW) Hits New 1-Year High – Here’s What Happened

CoreCivic, Inc. (NYSE:CXW) hit a new 52-week high during trading on Friday . The stock traded as high as $23.43 and last traded at $23.2220, with a volume of 189724 shares trading hands. The stock had previously closed at $23.06.

Wall Street Analysts Forecast Growth

CXW has been the subject of a number of research analyst reports. Weiss Ratings upgraded CoreCivic from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Wall Street Zen lowered CoreCivic from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Benchmark initiated coverage on CoreCivic in a report on Tuesday, March 24th. They issued a “buy” rating and a $28.00 target price for the company. Finally, JonesTrading restated a “buy” rating and issued a $30.00 target price on shares of CoreCivic in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, CoreCivic currently has an average rating of “Buy” and an average target price of $32.00.

CoreCivic Stock Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.44 and a current ratio of 2.44. The firm’s 50 day moving average is $20.61 and its 200-day moving average is $19.36. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 18.89 and a beta of 0.67.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.16). The business had revenue of $614.73 million for the quarter, compared to analyst estimates of $604.48 million. CoreCivic had a return on equity of 9.29% and a net margin of 5.53%.The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. CoreCivic has set its FY 2026 guidance at 2.580-2.680 EPS. Sell-side analysts anticipate that CoreCivic, Inc. will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CoreCivic

Hedge funds have recently bought and sold shares of the business. Aberdeen Group plc increased its position in CoreCivic by 44.5% during the third quarter. Aberdeen Group plc now owns 604,774 shares of the real estate investment trust’s stock worth $13,027,000 after buying an additional 186,174 shares during the last quarter. Vanguard Group Inc. increased its position in CoreCivic by 1.5% during the third quarter. Vanguard Group Inc. now owns 12,574,673 shares of the real estate investment trust’s stock worth $255,895,000 after buying an additional 183,923 shares during the last quarter. Turiya Advisors Asia Ltd acquired a new position in CoreCivic during the third quarter worth $9,748,000. Lee Danner & Bass Inc. increased its position in CoreCivic by 20.1% during the fourth quarter. Lee Danner & Bass Inc. now owns 582,558 shares of the real estate investment trust’s stock worth $11,133,000 after buying an additional 97,413 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC increased its position in CoreCivic by 442.6% during the third quarter. Counterpoint Mutual Funds LLC now owns 106,895 shares of the real estate investment trust’s stock worth $2,175,000 after buying an additional 87,194 shares during the last quarter. 85.13% of the stock is owned by institutional investors and hedge funds.

CoreCivic Company Profile

CoreCivic, Inc (NYSE: CXW) is a real estate investment trust specializing in the ownership, management and operation of private correctional and detention facilities in the United States. The company enters into contracts with federal, state and local government agencies to house inmates and detainees in facilities that it owns or operates on a concession basis. In addition to traditional prison operations, CoreCivic provides specialized services such as community-based reentry programs, electronic monitoring and rehabilitation initiatives aimed at reducing recidivism.

CoreCivic’s portfolio encompasses a mix of adult correctional facilities, immigration detention centers, residential reentry centers and other community-based programs.