CoreCivic (CXW) to Release Quarterly Earnings on Wednesday

CoreCivic (NYSE:CXW) is set to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.31 per share for the quarter. CoreCivic has set its FY24 guidance at $1.46-1.61 EPS and its FY 2024 guidance at 1.460-1.610 EPS.Investors interested in listening to the company’s conference call can do so using this link.

CoreCivic (NYSE:CXW) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.17). The business had revenue of $491.25 million during the quarter, compared to the consensus estimate of $489.62 million. CoreCivic had a return on equity of 4.70% and a net margin of 3.56%. On average, analysts expect CoreCivic to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CoreCivic Trading Down 0.2 %

CXW opened at $15.26 on Monday. CoreCivic has a one year low of $7.84 and a one year high of $16.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.60 and a quick ratio of 1.60. The business has a 50 day simple moving average of $15.16 and a two-hundred day simple moving average of $14.39. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 25.86 and a beta of 0.81.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Northland Securities lifted their target price on shares of CoreCivic from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. StockNews.com downgraded CoreCivic from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Finally, Wedbush increased their target price on CoreCivic from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th.

Insider Buying and Selling

In other news, EVP Anthony L. Grande sold 15,000 shares of CoreCivic stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the transaction, the executive vice president now directly owns 186,692 shares in the company, valued at $2,707,034. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Anthony L. Grande sold 15,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the transaction, the executive vice president now directly owns 186,692 shares in the company, valued at $2,707,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $14.62, for a total transaction of $738,675.50. Following the completion of the transaction, the chief executive officer now owns 820,262 shares in the company, valued at approximately $11,992,230.44. The disclosure for this sale can be found here. 1.89% of the stock is owned by company 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.