CoreCivic (CXW) to Release Quarterly Earnings on Wednesday

CoreCivic (NYSE:CXW) will be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect CoreCivic to post earnings of $0.31 per share for the quarter. CoreCivic has set its FY24 guidance at $1.46-1.61 EPS and its FY 2024 guidance at 1.460-1.610 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

CoreCivic (NYSE:CXW) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.17). The company had revenue of $491.25 million during the quarter, compared to analysts’ expectations of $489.62 million. CoreCivic had a net margin of 3.56% and a return on equity of 4.70%. On average, analysts expect CoreCivic to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CoreCivic Trading Down 1.3 %

Shares of CoreCivic stock opened at $14.90 on Wednesday. The firm has a market capitalization of $1.66 billion, a PE ratio of 25.25 and a beta of 0.81. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.73. CoreCivic has a twelve month low of $7.84 and a twelve month high of $16.24. The firm’s 50-day moving average price is $15.11 and its 200 day moving average price is $14.31.

Insider Buying and Selling at CoreCivic

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

Analyst Ratings Changes

A number of analysts have commented on the stock. Northland Securities increased their price objective 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 raised their price target on shares of CoreCivic from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, StockNews.com downgraded shares of CoreCivic from a “buy” rating to a “hold” rating in a report on Monday.

About CoreCivic

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.