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

Shares of CoreCivic, Inc. (NYSE:CXW) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $30.45 and last traded at $29.66, with a volume of 1876687 shares traded. The stock had previously closed at $28.90.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CXW. Weiss Ratings downgraded CoreCivic from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 16th. Wall Street Zen downgraded CoreCivic from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Benchmark started coverage on CoreCivic in a research note on Tuesday, March 24th. They issued a “buy” rating and a $28.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, CoreCivic presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

CoreCivic Stock Performance

The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 24.11 and a beta of 0.67. The company’s fifty day simple moving average is $22.29 and its two-hundred day simple moving average is $20.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.44 and a quick ratio of 2.44.

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

Institutional Trading of CoreCivic

Institutional investors and hedge funds have recently modified their holdings of the stock. NBC Securities Inc. lifted its holdings in shares of CoreCivic by 533.9% in the fourth quarter. NBC Securities Inc. now owns 1,458 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 1,228 shares in the last quarter. Leonteq Securities AG bought a new stake in CoreCivic during the fourth quarter worth $57,000. Smartleaf Asset Management LLC raised its position in CoreCivic by 33.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,829 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 702 shares during the last quarter. Fifth Third Bancorp raised its position in CoreCivic by 320.7% in the 4th quarter. Fifth Third Bancorp now owns 3,340 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 2,546 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in CoreCivic during the 4th quarter valued at $71,000. 85.13% of the stock is owned by hedge funds and other institutional investors.

About CoreCivic

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.