CoreCivic (NYSE:CXW) Issues FY 2024 Earnings Guidance

CoreCivic (NYSE:CXW) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.590-1.650 for the period, compared to the consensus estimate of 1.310. The company issued revenue guidance of -. CoreCivic also updated its FY24 guidance to $1.59-1.65 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CXW. Northland Securities upped their target price on shares of CoreCivic from $17.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday. Wedbush reaffirmed a “neutral” rating and issued a $14.00 price target on shares of CoreCivic in a research note on Friday, September 13th.

CoreCivic Stock Up 2.0 %

NYSE CXW traded up $0.44 during trading on Friday, hitting $22.52. 4,147,843 shares of the company traded hands, compared to its average volume of 976,815. The business has a fifty day simple moving average of $13.68 and a 200 day simple moving average of $13.83. CoreCivic has a 12 month low of $10.74 and a 12 month high of $24.99. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.48 billion, a P/E ratio of 33.61 and a beta of 0.86.

CoreCivic (NYSE:CXW) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). The company had revenue of $490.11 million during the quarter, compared to the consensus estimate of $481.87 million. CoreCivic had a net margin of 3.85% and a return on equity of 6.57%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. As a group, sell-side analysts predict that CoreCivic will post 1.51 EPS for the current year.

Insider Buying and Selling at CoreCivic

In other news, CEO Damon T. Hininger sold 31,996 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.50, for a total value of $399,950.00. Following the transaction, the chief executive officer now owns 788,266 shares of the company’s stock, valued at approximately $9,853,325. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Patrick D. Swindle sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $12.40, for a total transaction of $186,000.00. Following the completion of the transaction, the chief operating officer now directly owns 203,504 shares of the company’s stock, valued at $2,523,449.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Damon T. Hininger sold 31,996 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $12.50, for a total value of $399,950.00. Following the completion of the transaction, the chief executive officer now owns 788,266 shares of the company’s stock, valued at $9,853,325. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,996 shares of company stock worth $2,177,640. 1.89% of the stock is currently owned by insiders.

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.