CoreCivic (NYSE:CXW) Releases FY 2022 Earnings Guidance

CoreCivic (NYSE:CXWGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.45-$1.60 for the period. The company issued revenue guidance of -.

A number of research firms have issued reports on CXW. StockNews.com began coverage on CoreCivic in a report on Thursday, March 31st. They set a buy rating on the stock. Wedbush upgraded CoreCivic from a neutral rating to an outperform rating and set a $17.00 price target on the stock in a report on Thursday, April 14th. Finally, Wells Fargo & Company upgraded CoreCivic from a neutral rating to an outperform rating and set a $17.00 price target on the stock in a report on Thursday, April 14th.

Shares of NYSE:CXW traded up $0.70 during trading on Monday, reaching $11.37. 62,771 shares of the stock were exchanged, compared to its average volume of 921,142. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.88 and a quick ratio of 1.87. CoreCivic has a 1-year low of $7.37 and a 1-year high of $14.24. The stock has a fifty day moving average of $11.19 and a two-hundred day moving average of $10.50. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 14.86 and a beta of 0.84.

CoreCivic (NYSE:CXWGet Rating) last issued its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). CoreCivic had a return on equity of 8.49% and a net margin of 4.98%. The firm had revenue of $453.00 million for the quarter, compared to analyst estimates of $467.34 million. During the same period in the previous year, the company earned $0.44 earnings per share. CoreCivic’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts forecast that CoreCivic will post 1.52 EPS for the current year.

In related news, Director Mark A. Emkes purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, March 8th. The stock was acquired at an average cost 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 at this hyperlink. 1.93% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CXW. Janus Henderson Group PLC bought a new position in CoreCivic in the 3rd quarter valued at $108,000. Virtu Financial LLC bought a new position in CoreCivic in the 4th quarter valued at $127,000. Mackenzie Financial Corp grew its stake in CoreCivic by 13.1% in the 1st quarter. Mackenzie Financial Corp now owns 12,672 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 1,471 shares during the period. Royal Bank of Canada grew its stake in CoreCivic by 30.9% in the 3rd quarter. Royal Bank of Canada now owns 21,248 shares of the real estate investment trust’s stock valued at $189,000 after purchasing an additional 5,010 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in CoreCivic in the 4th quarter valued at $231,000. 82.35% of the stock is owned by institutional investors and hedge funds.

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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