FY2022 EPS Estimates for CoreCivic, Inc. (NYSE:CXW) Cut by Analyst

CoreCivic, Inc. (NYSE:CXWGet Rating) – Analysts at Wedbush reduced their FY2022 earnings estimates for shares of CoreCivic in a research report issued to clients and investors on Monday, May 9th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings of $1.55 per share for the year, down from their previous estimate of $1.70. Wedbush currently has a “Outperform” rating and a $17.00 target price on the stock. Wedbush also issued estimates for CoreCivic’s FY2023 earnings at $1.75 EPS.

A number of other equities research analysts also recently commented on CXW. Wells Fargo & Company upgraded CoreCivic from a “neutral” rating to an “outperform” rating and set a $17.00 target price on the stock in a research report on Thursday, April 14th. StockNews.com started coverage on CoreCivic in a research report on Thursday, March 31st. They set a “buy” rating on the stock.

NYSE:CXW opened at $10.79 on Wednesday. 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 company has a market capitalization of $1.31 billion, a P/E ratio of 14.01 and a beta of 0.84. CoreCivic has a 12 month low of $7.37 and a 12 month high of $14.24. The business’s 50-day moving average is $11.09 and its 200 day moving average is $10.45.

CoreCivic (NYSE:CXWGet Rating) last posted its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The firm had revenue of $453.00 million during the quarter, compared to analysts’ expectations of $467.34 million. CoreCivic had a return on equity of 8.49% and a net margin of 4.98%. CoreCivic’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share.

In related news, Director Mark A. Emkes acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, March 8th. The shares were acquired at an average cost of $8.52 per share, for a total transaction of $85,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.93% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC raised its holdings in shares of CoreCivic by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 17,332 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 898 shares during the period. Cornercap Investment Counsel Inc. raised its holdings in shares of CoreCivic by 1.1% in the first quarter. Cornercap Investment Counsel Inc. now owns 110,829 shares of the real estate investment trust’s stock worth $1,238,000 after buying an additional 1,171 shares during the period. Voya Investment Management LLC raised its holdings in shares of CoreCivic by 1.4% in the third quarter. Voya Investment Management LLC now owns 91,427 shares of the real estate investment trust’s stock worth $814,000 after buying an additional 1,269 shares during the period. Mackenzie Financial Corp raised its holdings in shares of CoreCivic by 17.1% in the third quarter. Mackenzie Financial Corp now owns 12,183 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 1,780 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of CoreCivic by 1.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 100,177 shares of the real estate investment trust’s stock worth $892,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 82.35% of the company’s stock.

About CoreCivic (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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