CoreCivic, Inc. (NYSE:CXW – Get Rating) – Investment analysts at Wedbush lowered their Q2 2022 earnings per share (EPS) estimates for shares of CoreCivic in a note issued to investors on Monday, May 9th. Wedbush analyst J. Mccanless now expects that the real estate investment trust will earn $0.38 per share for the quarter, down from their prior estimate of $0.45. Wedbush currently has a “Outperform” rating and a $17.00 target price on the stock. Wedbush also issued estimates for CoreCivic’s Q3 2022 earnings at $0.41 EPS and Q4 2022 earnings at $0.43 EPS.
CoreCivic (NYSE:CXW – Get Rating) last announced its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The business had revenue of $453.00 million for the quarter, compared to analyst estimates of $467.34 million. CoreCivic had a return on equity of 8.49% and a net margin of 4.98%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 EPS.
NYSE CXW opened at $11.62 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.84 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.09 and a beta of 0.84. The firm’s 50 day simple moving average is $11.05 and its 200 day simple moving average is $10.44. CoreCivic has a 1 year low of $7.37 and a 1 year high of $14.24.
In related news, Director Mark A. Emkes acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The stock was acquired at an average price of $8.52 per share, with a total value of $85,200.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.93% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of CoreCivic by 7.0% during the first quarter. Swiss National Bank now owns 284,418 shares of the real estate investment trust’s stock valued at $3,177,000 after acquiring an additional 18,600 shares during the last quarter. Trustcore Financial Services LLC raised its stake in CoreCivic by 11.1% during the first quarter. Trustcore Financial Services LLC now owns 196,026 shares of the real estate investment trust’s stock worth $2,190,000 after buying an additional 19,524 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in CoreCivic by 4.6% during the first quarter. SummerHaven Investment Management LLC now owns 87,741 shares of the real estate investment trust’s stock worth $980,000 after buying an additional 3,880 shares during the last quarter. Victory Capital Management Inc. raised its stake in CoreCivic by 60.1% during the first quarter. Victory Capital Management Inc. now owns 119,744 shares of the real estate investment trust’s stock worth $1,488,000 after buying an additional 44,973 shares during the last quarter. Finally, Hourglass Capital LLC raised its stake in CoreCivic by 8.4% during the first quarter. Hourglass Capital LLC now owns 243,375 shares of the real estate investment trust’s stock worth $2,718,000 after buying an additional 18,905 shares during the last quarter. 82.35% of the stock is owned by hedge funds and other institutional investors.
CoreCivic Company Profile (Get Rating)
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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